Latest news with #AddisonLee
Business Times
3 days ago
- Business
- 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
3 days ago
- Business
- 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.
Yahoo
14-02-2025
- Automotive
- Yahoo
Uber and Bolt drivers strike on Valentine's Day
Thousands of Uber, Bolt and Addison Lee drivers are logging off during peak hours on Valentine's Day in a campaign for better pay and working conditions, a union says. The strike action is taking place across the UK from 16:00 to 22:00 GMT. The Independent Workers Union of Great Britain (IWGB) said it would unite "drivers up and down the country faced with low pay and insecure conditions". Uber, Bolt and Addison and Lee have defended their working conditions after the IWGB said drivers in cities including London, Birmingham, Manchester, Cardiff and Brighton have backed the strike. Vasilica Dumitrescu has been working for various platforms, including Uber and Bolt, for the last nine years. The 51-year-old said she works seven days a week, clocking up more than 80 hours, just to make ends meet. "It's really bad financially, emotionally physically, everything," Ms Dumitrescu said. "I can't afford to make bills, rent, food, which is so expensive now. It's really, really bad." Ms Dumitrescu said she hopes the strike leads to higher pay agreements. "The customers, they are with us," she added. "Every driver is upset because they don't earn enough. They ask you how much you get from this trip and are surprised at how little we get." An Uber spokesperson said all its drivers are guaranteed to earn at least the national living wage, and that the majority can and do earn more. "On average, drivers across the UK earn more than £30 per hour when taking trips on Uber," the spokesperson said. "They also have access to industry-leading protections such as holiday pay, a pension and free sickness and injury cover, as well as formal representation through GMB Union." A spokesperson for Bolt said the company was "committed to ensuring our prices balance the earning needs of drivers with affordability for passengers". "All drivers receive holiday pay and monetary supplements to ensure they earn at least the national living wage, alongside a pension," the spokesperson added. Addison Lee has been contacted for comment. The company previously told the PA news agency: "We have a close working relationship with our drivers, which was further reinforced in our recent bi-annual driver satisfaction survey. We do not expect to see any disruption to volumes or service levels on February 14." In September 2024, Bolt drivers won a claim against the company after an employment tribunal ruled they were "workers" under UK law and entitled to rights and protections, including the national minimum wage. In January 2025, Addison Lee drivers won a similar case. Helio Santos, who is based in Stratford in east London, is another driver taking part in the strike. He has been driving with Uber for three years and said that while he spent 70 to 80 hours per week online, that often translates to just 25 to 30 hours of driving. Mr Santos said that Friday's strike action shows that drivers across UK are "reaching a breaking point". "This is unsustainable," he said. "Fees are too low, there is no safety, no transparency. Uber keeps ignoring us." Mr Santos, who has three children including a four-year-old, said Uber's promise of the national living wage was "meaningless". "It is mocking us, saying drivers get a living wage. I'll be better off working for a cleaning company," he added. The IWGB said that since drivers became "workers" under the law, they have reported their conditions have worsened. Alongside demands for fairer pay and more secure work, the union is calling for the introduction of safety measures for drivers such as rider ID verification, complaint tracking systems, and support for victims of assault. A spokesperson for Bolt said the company has committed €100m (£83.3m) over the next three years to support safety initiatives for its drivers. In recent years, it has introduced an in-app emergency assist button and provided additional passenger information prior to pick-up, the spokesperson added. Part of Friday's action will include a vigil for Bolt driver Gabriel Bringye who was killed in Tottenham, north London, in 2021. Mr Bringye, 37, was set upon by a group of teenagers on a crime spree, who booked the cab with the sole intention of robbing the driver. The IWGB said the vigil marks four years since his death, and that drivers are demanding better protections in his name. 'Impossible' to make ends meet, Uber drivers say Bolt drivers win right to holiday and minimum wage
BBC News
14-02-2025
- Automotive
- BBC News
Uber, Bolt and Addison Lee drivers set for Valentine's Day strike
Thousands of Uber, Bolt and Addison Lee drivers are logging off during peak hours on Valentine's Day in a campaign for better pay and working conditions, a union strike action is taking place across the UK from 16:00 to 22:00 Independent Workers Union of Great Britain (IWGB) said it would unite "drivers up and down the country faced with low pay and insecure conditions". Uber, Bolt and Addison and Lee have defended their working conditions after the IWGB said drivers in cities including London, Birmingham, Manchester, Cardiff and Brighton have backed the strike. Vasilica Dumitrescu has been working for various platforms, including Uber and Bolt, for the last nine years. The 51-year-old said she works seven days a week, clocking up more than 80 hours, just to make ends meet. "It's really bad financially, emotionally physically, everything," Ms Dumitrescu said."I can't afford to make bills, rent, food, which is so expensive now. It's really, really bad." Ms Dumitrescu said she hopes the strike leads to higher pay agreements."The customers, they are with us," she added. "Every driver is upset because they don't earn enough. They ask you how much you get from this trip and are surprised at how little we get."An Uber spokesperson said all its drivers are guaranteed to earn at least the national living wage, and that the majority can and do earn more."On average, drivers across the UK earn more than £30 per hour when taking trips on Uber," the spokesperson said."They also have access to industry-leading protections such as holiday pay, a pension and free sickness and injury cover, as well as formal representation through GMB Union."A spokesperson for Bolt said the company was "committed to ensuring our prices balance the earning needs of drivers with affordability for passengers"."All drivers receive holiday pay and monetary supplements to ensure they earn at least the national living wage, alongside a pension," the spokesperson Lee has been contacted for comment. The company previously told the PA news agency: "We have a close working relationship with our drivers, which was further reinforced in our recent bi-annual driver satisfaction survey. We do not expect to see any disruption to volumes or service levels on February 14."In September 2024, Bolt drivers won a claim against the company after an employment tribunal ruled they were "workers" under UK law and entitled to rights and protections, including the national minimum January 2025, Addison Lee drivers won a similar case. 'Breaking point' Helio Santos, who is based in Stratford in east London, is another driver taking part in the has been driving with Uber for three years and said that while he spent 70 to 80 hours per week online, that often translates to just 25 to 30 hours of driving. Mr Santos said that Friday's strike action shows that drivers across UK are "reaching a breaking point"."This is unsustainable," he said. "Fees are too low, there is no safety, no transparency. Uber keeps ignoring us." Mr Santos, who has three children including a four-year-old, said Uber's promise of the national living wage was "meaningless"."It is mocking us, saying drivers get a living wage. I'll be better off working for a cleaning company," he IWGB said that since drivers became "workers" under the law, they have reported their conditions have demands for fairer pay and more secure work, the union is calling for the introduction of safety measures for drivers such as rider ID verification, complaint tracking systems, and support for victims of of Friday's action will include a vigil for Bolt driver Gabriel Bringye who was killed in Tottenham, north London, in Bringye, 37, was set upon by a group of teenagers on a crime spree, who booked the cab with the sole intention of robbing the IWGB said the vigil marks four years since his death, and that drivers are demanding better protections in his name.
The Independent
14-02-2025
- Automotive
- The Independent
Thousands of Uber and Bolt drivers strike on Valentine's Day
Thousands of drivers from the likes of Uber, Bolt and Addison Lee will go on strike on Valentine's Day. Workers will take action for six hours from 4pm on Friday with the backing of driver groups across the country, according to The Independent Workers' Union of Great Britain (IWGB). The union said the strike action is in response to workers being forced by the tech companies to work 70 to 80-hour weeks with high car rents and poor job security. A union source told The Independent that they confidently expect thousands of drivers to take part. The organisers said this was having ' a devastating financial, physical and mental impact on us and our families.' They added this was an opportunity for drivers to stay united in the face of gig economy giants like Uber. One driver, Helio Santos, started driving for Uber three and a half years ago so he could look after his baby son and two teenagers while his wife worked full time for the NHS. He told The Independent: 'We have become slaves to the app', as he remains on duty for 60 to 70 hours a week completing day and night shifts for the company. 'It is scary. What we have right now is drivers bidding for the same trip with the lowest fare,' he added. 'We are bidding for it to make a living. There is no certainty.' He added that while Uber claim to pay the national living wage, they ignored the running costs. To maintain his car, Helio spends between £350 and £400 on rent and electricity per week to make a minimum of £150 per day. '£150 is nothing for a private hire driver', he said. The Chair for the IWGB 's Private Hire Drivers Branch, Nader Awaad, said: 'Up and down the country, drivers whose lives have been torn apart by apps like Uber are saying the same thing - it's time for us to take back the wheel.' He continued: 'As private hire drivers we offer a great service to the customers and form an essential part of the transport system. We deserve to be paid well and to have our jobs protected. 'Instead, industry profits have soared at our expense. The government and licensing authorities have abandoned us to the mercy of these companies. 'We are left with no choice but to come together and take action ourselves. This log-off on the 14th has reignited drivers' faith that by uniting we can transform this industry for the better.' An Addison Lee spokesperson said: "We have a close working relationship with our drivers, which was further reinforced in our recent bi-annual driver satisfaction survey. We do not expect to see any disruption to volumes or service levels on February 14th.' A Bolt spokesperson said: 'We recognise the vital role drivers play in keeping cities moving, and remain committed to ensuring our prices balance the earning needs of drivers with affordability for passengers.' They added they were the 'only operator' to enable drivers to set their own minimum pricing and also take advantage of dynamic pricing, while drivers also received holiday pay and monetary supplements to ensure they earn at least a national living wage alongside a pension. An Uber spokesperson said: "As workers, all Uber drivers are guaranteed to earn at least the national Living wage when taking trips, with Uber topping up their earnings if they ever fall below this level. The majority of Uber drivers can and do earn much more. 'Uber drivers have the freedom to work where and when they want and have access to industry leading rights such as holiday pay and a pension, as well as formal representation through GMB Union." GMB, Uber's officially recognised trade union, are not taking part in this action.
