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ComfortDelGro a promising investment despite 12.6% drop in FY2019 earnings

Amala Balakrishner
Amala Balakrishner • 2 min read
ComfortDelGro a promising investment despite 12.6% drop in FY2019 earnings
“Despite the challenging environment over the next 12 months, ComfortDelgro remains in an enviable position to recover when the situation improves,” says Joel Ng of KGI Securities.
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SINGAPORE (Feb 24): Analysts remain optimistic on land transport operator ComfortDelGro, following the release of its results for FY2019 ended December, on Feb 14.

The group posted a 12.6% decline in its FY2019 earnings to $265.1 million, from $303.3 million a year ago. This follows higher operating costs such as the $27 million incurred from the impairments in its taxi business.

Aside from taxi operations, the group’s core competencies are in public transportation and inspection and testing services.

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