ComfortDelGro's H1 2024 earnings rise 11.2% to S$106 million
Revenue for the period rose 14.4 per cent to S$2.4 billion, from S$2.1 billion in the year prior, due to contributions from its overseas revenue, which contributed more than half of its total revenue for the first time.
Full-year contributions from its acquisitions of UK private hire service Addison Lee, UK-based ground transport management specialist CMAC, and Australian taxi network A2B in 2024 helped boost CDG's overseas operating profit by 67.8 per cent compared with a year ago.
Earnings per share for H1 2025 was up 11.1 per cent at S$0.0489, from S$0.044 in H1 2024.
Revenue from the public-transport business rose 29.6 per cent to S$1.6 billion in H1 2025, from S$1.5 billion in H1 2024, due to increased revenues from renewals of its UK bus contract at improved margins, as well as the commencement of its four bus franchises in Greater Manchester.
For its taxi and private hire segment, revenue rose to S$519.7 million, rising 58.7 per cent from S$327.5 million a year ago.
BT in your inbox
Start and end each day with the latest news stories and analyses delivered straight to your inbox.
Sign Up
Sign Up
As for its other private transport segment, revenue for H1 stood at S$214.5 million, up 23.6 per cent, from S$173.5 million a year ago.
Overall operating profit for H1 grew to S$172.5 million, or 22.8 per cent higher than S$140.5 million from a year ago.
Cheng Siak Kian, the group chief executive officer of CDG, said that the increase in overseas earnings reflects CDG's focus on pursuing profitable international growth.
'The international public transport business continues to do well, underpinned by our ability to collaborate effectively with our clients to deliver valued services to support their transport goals,' he said.
An interim dividend of S$0.0391 per share was declared by the board, to be paid on Aug 28.
Shares of CDG closed 0.6 per cent or S$0.01 higher at S$1.58 on Wednesday, before the announcement.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Straits Times
an hour ago
- Straits Times
Grand Slam Track won't take place in 2026 till athletes paid for 2025
Sign up now: Get ST's newsletters delivered to your inbox Grand Slam Track is struggling to compensate its athletes after pulling its final meet of 2025 in Los Angeles, said its founder Michael Johnson. – The financially troubled Grand Slam Track circuit will not take place in 2026 until athletes awaiting prize money for 2025 are paid, its founder Michael Johnson said on Aug 15. He admitted in a statement 'we are struggling with our ability to compensate' athletes from the three meets that took place in 2025 in Kingston, Jamaica and in Miami and Philadelphia. The four-time Olympic sprint gold medallist said he had taken the decision to cancel the fourth and final meeting in Los Angeles 'to avoid further losses and start the lengthy process of stabilising the company to get back on track'. 'But unfortunately, we saw circumstances change in ways beyond our control,' he said. The 57-year-old added: 'The 2026 season will not happen until those obligations are met – and that is my No. 1 priority.' Johnson said he had held talks with new investors, and he remained 'confident' about the future of Grand Slam. 'We're not done yet. Not even close,' he said. Top stories Swipe. Select. Stay informed. Singapore Over 280 vapes seized, more than 640 people checked by police, HSA in anti-vape raids at nightspots Singapore SPLRT disruption: 28km of cables to be tested during off-service hours; works to end by Aug 23 Singapore First-half GDP boost likely temporary; Republic must stay relevant amid challenges: Chan Chun Sing Life Six-figure sales each durian season: Why S'pore durian sellers are now live selling on TikTok Singapore Airport-bound public bus to be fitted with luggage rack in 3-month trial: LTA Asia Australian universities slash staff, courses as rising wages and foreign student curbs bite Life Meet the tutors who take O-level exams every year to create a 'war mate' bond with their students Life Pivot or perish: How Singapore restaurants are giving diners what they want Johnson launched Grand Slam as an alternative to the Diamond League series of international meets with an important difference – it would only feature track events and no field events. He promised a more concentrated format with more head-to-head races between the world's best athletes. However, while the series was able to recruit stars such as US Olympic 200m champion Gabby Thomas and 400m hurdles world record holder and double Olympic gold medallist Sydney McLaughlin-Levrone, it failed to attract a host of top sprinting talent, including the reigning men and women's 100m champions Noah Lyles and Julien Alfred. The series offered athletes prize money of up to US$100,000 (S$128,000) for their overall standings after participating in two races at each meet. Athletes were pictured holding up giant cheques showing how much money they had won. However, while the competitors expressed enthusiasm for the series, there were clear signs it had failed to capture the imagination of fans. There were swathes of empty seats at the opening meet in Kingston, while for the third meeting in Philadelphia, the programme was cut from three days to two. In July, Front Office Sports reported that Grand Slam Track owed around US$13 million to athletes who had participated. 'It is incredibly difficult to live with the reality that you've built something bigger than yourself, while simultaneously feeling like you've let down the very people you set out to help,' Johnson said in a statement. 'We promised that athletes would be fairly and quickly compensated. Yet, here we are struggling with our ability to compensate them.' Off the track, Ukraine's Olympic and world champion Yaroslava Mahuchikh notched her 22nd Diamond League victory in a high jump shoot-out with Australian Nicola Olyslagers in Katowice on Aug 15. The women's high jump was one of three disciplines along with the women's shot put and pole vault that were held in the main square of the south-western Polish city. The main Silesia Diamond League meet will be held in neighbouring Chorzow on Aug 16. The high jump predictably turned into a battle between the two clear favourites. Mahuchikh cleared 2.00 metres at her second attempt, piling pressure on her Australian rival Olyslagers, a two-time defending indoor champion and silver medallist at the last two Olympics. But the challenge proved too much, and Olyslagers had to settle for second with 1.97m, behind the world record holder who has now claimed three circuit wins this season. Germany's Imke Onnen was a distant third with a best of 1.91m. AFP, REUTERS
Straits Times
2 hours ago
- Straits Times
Air Canada flight attendants walk off job, picket lines set up at airports
Sign up now: Get ST's newsletters delivered to your inbox People hold placards as a strike begins after the union representing Air Canada's 10,000 flight attendants failed to reach an agreement with the airline, at Montreal-Pierre Elliott Trudeau International Airport in Dorval, Quebec, Canada August 16, 2025. REUTERS/Peter McCabe TORONTO/OTTAWA - Hundreds of Air Canada employees formed picket lines outside major Canadian airports on Saturday, hours after unionized flight attendants walked off the job in a contract dispute that has disrupted travel for tens of thousands of passengers. The strike, which started just before 1 a.m. EDT (0500 GMT), had forced Canada's largest airline to suspend the majority of its 700 daily flights, affecting more than 100,000 travelers who were forced to find alternative flights or stay put. As of Saturday morning, there were no bargaining sessions scheduled between the two sides, which have held on-and-off negotiations for months. The Canadian Union of Public Employees, representing more than 10,000 Air Canada flight attendants, confirmed the stoppage in a social media post. It is the first strike by Air Canada flight attendants since 1985. Outside Toronto Pearson International Airport - the country's busiest - hundreds of cabin crew waved flags, banners and picket signs. Union officials called on members to assemble outside all of the country's major airports, including in Toronto, Montreal, Calgary and Vancouver. Montreal-based Air Canada said the suspended flights included those operated by its budget arm, Air Canada Rouge. The stoppage would affect about 130,000 customers a day, the carrier said in a statement. Flights by Air Canada's regional affiliates - Air Canada Jazz and PAL Airlines - will operate as usual. "Air Canada is strongly advising affected customers not to go to the airport unless they have a confirmed ticket on an airline other than Air Canada or Air Canada Rouge," the airline said. Top stories Swipe. Select. Stay informed. Singapore Over 280 vapes seized, more than 640 people checked by police, HSA in anti-vape raids at nightspots Singapore SPLRT disruption: 28km of cables to be tested during off-service hours; works to end by Aug 23 Singapore First-half GDP boost likely temporary; Republic must stay relevant amid challenges: Chan Chun Sing Life Six-figure sales each durian season: Why S'pore durian sellers are now live selling on TikTok Singapore Airport-bound public bus to be fitted with luggage rack in 3-month trial: LTA Singapore 3 truck drivers injured after chain collision on ECP, including one rescued with hydraulic tools Life Meet the tutors who take O-level exams every year to create a 'war mate' bond with their students Life Pivot or perish: How Singapore restaurants are giving diners what they want WAGE DISPUTE The dispute between the union and the airline centers on wages. Attendants are currently paid only when their plane is moving. The union is seeking compensation for time spent on the ground between flights and when helping passengers board. The union has said Air Canada offered to compensate flight attendants for some work that is now unpaid but only at 50% of their hourly rate. The carrier had offered a 38% increase in total compensation for flight attendants over four years, with a 25% raise in the first year, which the union said was insufficient. The impact of a strike will ripple far beyond Canada. Air Canada is the busiest foreign carrier servicing the U.S. by number of scheduled flights. While passengers have generally voiced support for the flight attendants on social media, Canadian businesses - already reeling from a trade dispute with the U.S. - have urged the federal government to impose binding arbitration on both sides, ending the strike. The Canada Labour Code gives Jobs Minister Patty Hajdu the right to ask the country's Industrial Relations Board to impose binding arbitration in the interests of protecting the economy. Air Canada has asked Prime Minister Mark Carney's minority Liberal government to act, but the union says it wants a negotiated solution, as binding arbitration would take pressure off the airline. Hajdu has repeatedly urged the two sides to return to the bargaining table. In a note to clients, analysts at financial services firm TD Cowen urged the carrier to "extend an olive branch to end the impasse," adding that investors are worried that any cost savings on labor would be outweighed by lost earnings in the airline's most important quarter. "We think it would be best for AC to achieve labor peace," the note said. "Not budging on negotiations risks being a Pyrrhic victory." REUTERS
Straits Times
7 hours ago
- Straits Times
Universities in Australia slash staff and courses as foreign student curbs hit
Sign up now: Get ST's newsletters delivered to your inbox The cap on the intake of international students hurts the profitability of Australian universities. – Australian universities have slashed entire courses and let go of staff – particularly in the humanities – to stay afloat as they grapple with rising wages as well as a cap on the intake of international students, which hurts profitability. One of Australia's leading universities, the Australian National University, has cut more than 200 positions through redundancies and voluntary departures as it seeks to find savings of A$250 million (S$208.66 million) by 2026.
