Revenue from the public transport services business, which comprises bus and rail services, increased by 15.8% y-o-y to $1.5 billion. This was due mainly to higher fuel indexation from higher oil prices, and higher rail revenue from increased ridership.
Local public transport operator SBS Transit (SGX:S61
) , a 75%-owned company of ComfortDelGro (SGX:C52) , announced that its FY2022 ended Dec 31, 2022, earnings have increased by 31.7% to $68.0 million from $51.6 million a year ago.
This comes on the back of a 15.6% y-o-y increase in revenue to $1.5 billion from $1.3 billion last year, with revenue contribution from both public transport services and other commercial services seeing growth.
