ComfortDelGro’s net profit up 6.9% to $80.9m in Q2

Rail, taxi and bus revenue all increased.

Transport giant ComfortDelGro booked a 6.9% profit increase in the second quarter, netting a total of $80.9m on back of higher rail, taxi and bus revenue.

Revenue of the group’s core bus operations grew 4.1% to $538.6m during the quarter, backed by higher earnings from overseas bus operations but partially offset by negative forex translation effects.

Its taxi business booked a 3.3% revenue increase to $330m, boosted by a positive foreign currency translation effect of $1.9 million from the stronger Renminbi.

Meanwhile, its rail segment recorded 6.8% revenue growth on back of higher daily train ridership and fares.

ComfortDelGro declared tax-exempt one-tier interim dividend of 4 cents per ordinary share for Q2.