SMRT NETT Profit rises 50%

[Parkingidiot]

How come no one post this yet?

 

 

Singapore News

 

 

SMRT Corporation's Q4 net profit rises 50.3% to more than S$34m

By Amanda Feng | Posted: 29 April 2011 2150 hrs

 

 

SINGAPORE: SMRT Corporation says its fourth quarter net profit rose 50.3 per cent to more than S$34 million for this year.

 

Revenue over the same period rose 8.6 per cent to S$244.5 million.

 

Group revenue for the full year for the period ended March 31 increased by 8.3 per cent to S$969.7 million due mainly to factors such as higher bus ridership, contribution from Circle Line and higher taxi rental revenue.

 

SMRT says the group revenue is expected to be higher in first quarter of financial year 2012, compared with the same period of 2011, due mainly to higher train and bus ridership.

 

Revenue from increase in ridership will be negatively impacted by lower average fare due to the implementation of distance fares.

 

Going forward, SMRT will add 22 trains and 50 new buses. Fare revenue and depreciation will increase correspondingly.

 

As a result, cost will remain a challenge due to continued losses that will be incurred in the early phases of Circle Line operations and volatility in both diesel and electricity prices.

 

- CNA/cc

 

http://www.channelnewsasia.com/stories/sin...1125779/1/.html

Edited April 30, 2011 by Parkingidiot

[Parkingidiot]

How come Lemon Lim is so quiet this GE? So far no sight or sound from him...

 

[Vid]

I always wonder how public transport can have such high percentage profit increase. If operational cost remains the same, perhaps at times increase of fares due to inflation or higher fuel cost, then the only like reason is because of higher ridership (circle line?). Then again, how to get over 50% profit increase?

 

Fare increased much more than it was supposed to?

[Kopites]

I always wonder how public transport can have such high percentage profit increase. If operational cost remains the same, perhaps at times increase of fares due to inflation or higher fuel cost, then the only like reason is because of higher ridership (circle line?). Then again, how to get over 50% profit increase?

 

Fare increased much more than it was supposed to?

 

 

Just came back from bedok. Some speaker mentioned "distance base charges" on public transport. Probably that might be one of the reason in 50% increase of profit.

[Parkingidiot]

so since sooooo much profit... should have no reason to increase fares again for a couple of years, right?

[Kiadaw]

so since sooooo much profit... should have no reason to increase fares again for a couple of years, right?

 

 

Let me answer the question:

 

The SMRT is a public listed company & need to answer to its shareholders.

 

Ah Long already said the above statement before.

[Nicz]

Because most MCFers do not take public transport?

 

No wonder it seems like i've been having to top up my ez-link card so much more often...

Edited April 30, 2011 by Nicz