ComfortDelGro’s PATMI rises 21.4% in H1 on strong revenue growth

Revenue for the period rose to $2.12b.

ComfortDelGro’s profit after tax and minority interests (PATMI) rose 21.4% YoY to $95.3m in the first half of 2024, driven by revenue growth.

In H1 2024, the company’s revenue increased by 13.7% YoY to $2.12b.

ComfortDelGro attributed the revenue improvement to its public transportation and taxi and private hire segments, which recorded a 5.6% and 44.6% year-on-year increase in operating profit, respectively.

The company also noted that its overseas revenue contribution increased to 46.3% in H1 2024.

With its stronger performance, ComfortDelGro proposed a tax-exempt one-tier dividend of $0.0352 per share, representing a payout ratio of 80%.

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