ComfortDelGro on track for record FY13 profits after strong 3Q13

No roadblocks for transportation firm.

OCBC Investment Research said that on account of the better 3Q13 performance, it has raised its FY13/14 revenue by 3% and incorporated better operating margins, resulting in higher earnings forecasts.

"We expect ComfortDelgro to end FY13 with another record PATMI figure as continued strong performances from its taxi, bus and vehicle inspection operations should offset any weakness in the other segments such as rail (due to the DTL start-up costs) and driving centre operations," said OCBC.

"In addition, recent events in NSW, Australia have been favourable to ComfortDelgro where the tender process for other routes has been delayed and current operators have the opportunity to renegotiate terms. While this means that ComfortDelgro will not secure new bus routes in the near-term, the renegotiation allows them to hold on to existing contracts i.e. stability in Australian operations," it added.

ComfortDelGro’s (CDG) 3Q13 results beat OCBC's expectations, growing 8.6% YoY to S$978.4m on the back of higher bus/rail ridership and taxi rentals while operating profit grew 4.8% YoY to S$122.4m. PATMI for 3Q13 came in 5.4% YoY higher to S$76.7m.

Follow the link for more news on

ComfortDelGro

Reaching the people who run Asia's businesses is harder than it used to be.

Inboxes are crowded. Attention is short. The executives you most want to reach — the founders, CFOs, and operators who actually move budgets — are the hardest to find through the usual channels. If you're building a company, a category, or a reputation, you already know this.

We've spent twenty years building the room they read. Singapore Business Review is where senior decision makers in Singapore and across Southeast Asia come for business coverage they can't get elsewhere — in print, online, and in person at the summits and roundtables we host across seven markets.

If you have something these readers should know about — a point of view worth publishing, a product worth their attention, an event worth their time — we'd like to hear what you're trying to do.

Book a meeting

| Or download the media kit (PDF)

240,000 senior readers quarterly in print Top 1,700 Singapore companies reached

7 markets across Southeast Asia