29 Apr '11, 2pm

[CNA] SMRT Corporation's Q4 net profit rises 50.3% to more than S$34m

SINGAPORE: SMRT Corporation says its fourth quarter net profit rose 50.3 per cent to more than S$34 million for this year. Revenue over the same period rose 8.6 per cent to S$244.5 million. Group revenue for the full year for the period ended March 31 increased by 8.3 per cent to S$969.7 million due mainly to factors such as higher bus ridership, contribution from Circle Line and higher taxi rental revenue. SMRT says the group revenue is expected to be higher in first quarter of financial year 2012, compared with the same period of 2011, due mainly to higher train and bus ridership. Revenue from increase in ridership will be negatively impacted by lower average fare due to the implementation of distance fares. Going forward, SMRT will add 22 trains and 50 new buses. Fare revenue and depreciation will increase correspondingly. As a result, cost will remain a challenge due t...

Full article: http://www.channelnewsasia.com/stories/singaporebusinessn...

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