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[News Article] SBS Transit reports 69.5% rise in Q1 net profit
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SBS Transit reports 69.5% rise in Q1 net profit
From: CNA
Date: 11/05/16

SINGAPORE: SBS Transit on Wednesday (May 11) announced a 69.5 per cent rise in its first-quarter net profit to S$8.08 million.

The public transport operator said group operating profit for the three months ended Mar 31, 2016 was S$11 million, a 60.7 per cent increase from the same period a year ago. Group revenue climbed 6.6 per cent to S$263.5 million.

SBS Transit noted that revenue from the bus segment was 1.2 per cent higher at S$198.5 million in the first quarter, due to higher daily ridership, which was partially offset by the fall in average fare following a fare reduction in December last year. Average daily ridership on buses rose by 3 per cent to 2.9 million passenger trips.

[Read More on paragraph 5 to 8 revenue on rail business]
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