SMRT Q1 FY10/ 11 profit plunges 21%
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SINGAPORE : Transport operator SMRT's first quarter net profit fell 21 per cent on-year to S$38.2 million, due mainly to lower operating profits.
Its revenue, however, rose 9 per cent on-year to S$235 million.
SMRT said the revenue growth was due mainly to higher MRT ridership, contribution from Circle Line Stages 1 and 2, increase in bus ridership and stronger rental revenue.
Rental revenue grew 12 per cent on-year to S$17.3 million as a result of increased space following the redevelopment of commercial spaces at various MRT stations.
Consequently, operating profit from rentals rose 7.9 per cent to S$13.5 million for the quarter.
Looking ahead, SMRT said the next 12 months for its train operations will be challenging, with continuing losses from Circle Line operations, increasing cost pressures and the impact of distance fares on fare revenue.
The company added that with these challenges, the profitability of fiscal year 2010 may not be maintained.
- CNA/al
http://www.channelnewsasia.com/stories/singaporebusinessnews/view/1072434/1/.htmlCircle Line dragged SMRT down. It expects further challengers from DBTF.
CCL's ridership is ard 70% of e targeted 200,000 projected by SMRT.
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Haha as expected....The circle line wif it's stupid 3-carriage trains.
And they call it MRT.... =.=
Seriously i wonder hw they wld cope during peak hrs.... -
Originally posted by Merczrox:
Haha as expected....The circle line wif it's stupid 3-carriage trains.
And they call it MRT.... =.=
Seriously i wonder hw they wld cope during peak hrs....Coping fine
~ Your choice if you want to board the train okay. -
Profit plunge... time to cut down number of trains... to save cost.. -_-"
Hire more pushers to push us in??? Haha.... 5,000 passengers per carriage??? Haha... -
Wondering the spike from 124,000 to 145,000 a day did it occured partly because of e recent ad hoc like IT Show.