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CNA
31 minutes ago
- CNA
Premier League CEO Masters pleads for patience in Man City case
Premier League chief executive Richard Masters defended the league's judicial process on Wednesday amid criticism over the slow pace of Manchester City's disciplinary case involving 115 charges of alleged financial rule breaches. Speaking at a Premier League season launch event in Liverpool, Masters said that once charges are brought forward, the matter is handed over to an independent panel, which operates autonomously. "It's an independent judiciary essentially," Masters told Sky Sports. "They are then in charge of the process and its timings. They hear the case, they decide the outcome and we have no influence over it or its timing." Masters refrained from speculating on when a decision might be reached, but acknowledged the frustration surrounding lengthy legal processes. "My frustration is irrelevant really, I just have to wait. Legal processes rarely take less time than you anticipated. But we have to be patient," he said. Masters also addressed speculation around staging Premier League matches abroad, after LaLiga's plan for a game between Villarreal and Barcelona in Miami received approval from the Spanish football federation (RFEF) on Monday. He said the controversial "Game 39" concept of an extra competitive match hosted outside of Britain remained off the table. "I think that (LaLiga) match that's been talked about, there's a long road to go yet about whether that will actually happen," Masters said. "It hasn't changed our view about matches abroad. We did look at the 39th game way back when with lots of controversy... Our objective at the time was how to grow the Premier League around the world. We've been able to do that through different means," he said. Masters also responded to concerns over the competitiveness of newly promoted clubs, after all three teams relegated last season - Leicester City, Ipswich Town and Southampton - had only just come up. The same thing happened in the 2023-24 campaign when Luton Town, Burnley and Sheffield United returned to the second-tier after only one season in the top-flight. Masters pointed to success stories like Nottingham Forest, Bournemouth and Fulham, who were promoted for the 2022-23 season and are "performing extremely well in the Premier League three years later". "It's never going to be easy... The Premier League is becoming more competitive. The Championship is a fantastic division. We want it to be successful. We want there to be an influx of different clubs coming in and out. So it's something we need to keep an eye on." Masters also confirmed that the newly established independent football regulator is expected to begin operations in October or November. "We are the first country, major football nation to be regulated in this way," he said. "The Premier League operates in a global environment. So naturally we have some concerns, but the main thing is that I think the regulator doesn't start from the position that football is somehow broken in this country... "All of the key indicators are really positive for the whole of the pyramid, for the England teams, men's and women's. So, I think there is lots to be really proud about and the regulator should really be intervening where absolutely necessary." The new Premier League season kicks off on Friday when defending champions Liverpool host Bournemouth.
Business Times
5 hours ago
- Business Times
ComfortDelGro's H1 2025 earnings rise 11.2% to S$106 million
[SINGAPORE] Transport operator ComfortDelGro (CDG) reported on Wednesday (Aug 13) an 11.2 per cent increase in earnings for the first half of 2025 to S$106 million, from S$95.3 million in the year-ago period. 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. Overseas revenue contributions, which amounted to S$1.3 billion, increased to 54.3 per cent of the overall revenue, up from 46.3 per cent in the year-ago period. 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. Revenue from Singapore, on the other hand, dipped slightly by 2.6 per cent to S$1.1 billion over the same period. Earnings per share for H1 2025 was up 11.1 per cent at S$0.0489, from S$0.044 in H1 2024. 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 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. However, operating costs for this segment also increased by 67.5 per cent – from S$265.9 million in H1 2024 to S$445.4 million in H1 2025. 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. Outlook In terms of business outlook for Singapore, CDG said that rail revenue is projected to increase with a steady growth in ridership, although manpower costs are anticipated to rise in a tight labour market. As for its overseas markets, the company expects the renewal of its London public bus contracts to continue at improved margins. It also noted that the driver shortage in Australia is slowly reducing. 'Although the group has no direct exposure to recently introduced trade tariffs, with recent geopolitical and trade tensions, the group continues to monitor foreign exchange and interest rates closely and take appropriate measures as necessary while continuing to execute its strategy,' it added. 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.
Business Times
6 hours ago
- Business Times
ComfortDelGro's H1 2024 earnings rise 11.2% to S$106 million
[SINGAPORE] Transport operator ComfortDelGro (CDG) reported on Wednesday (Aug 13) an 11.2 per cent increase in earnings for the first half of 2025 to S$106 million, from S$95.3 million in the year-ago period. 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.
