ComfortDelGro has reported 32.9% higher profit after tax and minority interests (patmi) y-o-y to $34.3 million for 3QFY2022 ended September.
Operating profit excluding non-recurring items and government relief, meanwhile, grew 170.7% y-o-y to $33.8 million. This is mainly due to improving economic activity in Singapore after Covid-19 restrictions were relaxed, says the transport operator in a business update on Nov 14.
Revenue grew 10.1% y-o-y to $969.5 million for the quarter, while operating costs grew in tandem by 10.5% y-o-y to $77.6 million.
As of September 2022, total assets shrank 3.9% from December 2021 to $4,761.3 million; mainly due to depreciation for the period partially offset by increase in cash and short-term deposits. Meanwhile, total liabilities improved 3.8% to $1,750.2 million over the same period; mainly due to repayment of borrowings.
Compared to December 2021, ComfortDelGro’s net asset value per share shrank 4.2% to 119.6 cents as of September 2022.
As at Sept 30, ComfortDelGro’s net cash position stood at 647.2 million, up from $519.8 million at Dec 31, 2021.
See also: Emperador displaces ComfortDelGro as constituent in benchmark Straits Times Index
Shares in ComfortDelGro closed 1 cent lower, or 0.73% down, at $1.36 on Nov 14.
