Full year operating loss, excluding government relief, has been reduced from $29.8 million for FY2020 to just $2.77 million for FY2021.
CGS-CIMB Research is keeping its “add” call on SBS Transit but with a slightly lowered target price of $3.40 from $3.50 previously. The research house is optimistic on SBS’ recovery prospects as Singapore moves towards an endemic.
In its latest FY2021 ended December 2021 results, SBS reported earnings of $51.6 million, some 34.6% lower y-o-y, despite revenue increasing 6.5% to $1.31 billion.
