Meanwhile, public transport operator SBS Transit, which is around 75% owned by ComfortDelGro, reported profit after tax of $51.9 million, down 19.9% y-o-y over the same ninemonth period. Revenue, meanwhile, was down 15.7% y-o-y to $1.07 billion.
The year has been particularly unkind to the land transport sector. Within Singapore, the two-month-long “circuit breaker” caused ridership volumes to collapse. The subsequent work-from-home arrangements and travel restrictions have kept commuter traffic and taxi ridership down. The two listed transport operators — ComfortDelGro, and its subsidiary, SBS Transit — naturally, were hurt.
For nine months ended Sept 30, ComfortDelGro reported profit after tax of $33.5 million, down 87% y-o-y from $256.8 million in the year earlier. Revenue in the same period was down 19.3% y-o-y to $2.34 billion.
