In its business update, the transport operator noted that the cost challenges from the high inflationary and high interest rate environment as well as manpower shortages remain. This is offset by the lower oil and gas prices, although prices have remained volatile due to the Russia-Ukraine war. Countries living with Covid-19 as an endemic has also been positive for CDG’s business.
ComfortDelGro (CDG) (SGX:C52
) has reported profit after tax and minority interests (patmi) of $32.8 million for the 1QFY2023 ended March 31, 56.9% lower than patmi of $76.1 million in the corresponding period the year before.
On a q-o-q basis, however, CDG’s 1QFY2023 patmi rose by 28.6%.
