SMRT reports 42 percent jump in full-year profit

sbst275 SG

SINGAPORE : SMRT has reported stronger-than-expected full-year results, thanks to higher tax writebacks.

Net profit jumped 42 percent to almost S$127 million, while revenue rose 0.9 percent to S$673 million.

Going forward, the rail operator said it would intensify its efforts to grow its ridership, and expand its taxi fleet and retail space.

SMRT has so far renovated and upgraded retail space in five MRT stations.

The company said it would turn its eye to investment opportunities abroad to raise the profit contribution from non-fare sectors.

SMRT is viewed as a company with a stable dividend payout due to the inherent consistency of its core operations. - CNA /ct

Actually, average train fare per passenger fell... W/o the tax write-back, profit fell by 24%

PJ_Quek SG

Hope the profit will be directed to purchasing of new buses.

the Bear SG

and if they dare to even whisper about fare increases…

poon cho tang SG

and for this reason, they are planning to increase fares to further boost shareholders' dividends Laughing

PatrickLTH SG

Taxi fare may not increase,

but bus fare and MRT fare is going to increase.

dragg SG

with the price increase we have no choice but switch to bicycle, the only 'cheap' form of transport left. then with everyone following the trend it is only a matter of time we see COE for bicycle as well.

Laughing

bismarck SG

Laughing

biggest joke in sg history

PJ_Quek SG

Don’t expect fare to remain same all the time, when you expect your salary to increase.

sbst275 SG

The largest joke is not this, for FY2003, SBST500 profit plunged by 90%