Taxi Journal
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SINGAPORE: Transportation group ComfortDelGro reported a 3.1 per cent rise in its full-year net profit to S$235.6 million from the previous year.
This is despite rising fuel costs which had dampened the company's operations last year.
Group revenue for the year ended Dec 31 last year grew 6.4 per cent to hit a record of S$3.41 billion.In a filing to the Singapore Exchange, ComfortDelgro said its overseas income accounted for 42.2 per cent of group revenue.
ComfortDelGro's Group CEO Kua Hong Pak said: "2011 was a very challenging year given the global economic and financial uncertainties.
"The persistently high cost of fuel continued to dampen our operations but we did well to grow both our top line and bottom line."
Still, Mr Kua cautions on the company's outlook saying that "there are significant headwinds as we move into 2012 and we will need to be even more focussed on cost management while seeking growth".The company's bus operations contributed the most to group revenue. Full-year revenue from the bus business increased by 4.5 per cent to S$1.69 billion on the back of strong growth overseas.
In Singapore, bus revenue at SBS Transit increased by 3.1 per cent to S$566.1 million as average daily ridership grew by six per cent.
The company said this more than compensates for the 2.5 per cent drop in average fares last year.
ComfortDelGro's taxi business performed well last year with revenue rising 5.8 per cent to S$1.04 billion, the first time taxi revenue has crossed the S$1 billion mark. In Singapore, revenue from the taxi business was 7.6 per cent higher at S$748.7 million due to higher rental income from a larger fleet.Meanwhile in the UK, revenue from the taxi business decreased by 13.1 per cent to S$129.9 million due to fewer Taxicard and corporate account bookings resulting from the slowdown in the UK economy.
The company's rail business rose 10.5 per cent to S$134.4 million as ridership for both the Northeast line and Light Rail Transit systems grew.
Looking ahead, ComfortDelGro said with economic growth for Singapore expected to slow in 2012, it projects bus and rail ridership to increase at a slower pace.
This is expected to cause a drop in advertising revenue in Singapore.
The company has proposed a final dividend of 3.30 cents per share. - CNA/wk -
Taxi ridership up for second straight year.
but figures still below pre-financial crisis level
Taxi ridership has risen for the second year in a row but the fare increase that took effect in December is expected to pull patronage down this year.
According to the Land Transport Authority, last year's taxi ridership averaged 933,000 a day up 2.3 per cent from 2010. The figure is also higher than the 860,000 and 909,000 posted in 2009 and 2008 respectively, but lower than the 994,000 in 2007, before the global financial meltdown.
In the past decade, the year with the lowest patronage was 2003, when the severe acute respiratory syndrome kept many commuters away. Taxi riders averaged 805,000 a day then. The highest was 2005, when ridership hit 980,000, on the back of a recovery from 2004 recession.
Taxi ridership usually goes down after a fare hike. For instance, when the fares were raised in December 2007, ridership fell by 3.7 per cent the following year. Operators expect the same pattern this year.
Ms Tammy Tan, a spokesman for Comfortdelgro, the largest taxi company here with 15,600 cabs, said the number of weekly trips by it's drivers has gone down by about 10 per cent - or 8,200 fewer a day than before the fare hike.
SMRT said it's ridership was "healthy", but it's call bookings had fallen by 10 per cent.
Transport Minister Lui Tuck Yew said in Parliament last month that waiting time for cabs has shortened since the fare hike. But he added it was too early to say if the situation was permanent.
Despite this, some commuters said they have a hard time getting a cab now. Marketing executive K.E. Tay, 42, said: "I usually SMS for a cab in the morning... But after December, i can't get a response. Then i have to resort to phoning in, and i have to wait 10 to 15 mins to get one. Once, i waited for almost 45 mins without success."
By Christopher Tan
Senior Correspondent for Straits Times
The Straits Times, Wednesday, February 15 20112
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of course ridership down they still make billions .
Call Levy already how much ? In a year ?
They created the fare system , and benefit them all the time .
Taxi rental still same mah despite ridership down .
Of course made lah ..... of course taxi drivers loves them that created all this .
Loves the calls , loves the cheap diesels . Love their cashless .
They are still the best among the worst .
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to make things worst , Singapore second biggest taxi company just content with having to be
by CDG"Doggies , go left doggie ."
" Wolf wolf yes Wolf "
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ah pool mai discribe untill like that le........
just curious,
drive cdg can more HUAT than drive other cop?
cdg driver earn more?
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How much can cdg driver earn more?? cannot even make them a thousandair, driving taxis is not just because of the companies system, companies are out there to suck you dry inorder to make profit, what cdg declared is for their shareholders to feel happy, not TDs, we are just the lambs they slaughtered all these years.
Driving taxi is about working hard and smart, some drive limo makes nothing and everyday can come ask for money to borrow, some drive Fit only, can go holiday in Oz with family yearly. It is all about hard work, plan well, work smart and saving.
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Yes, for this I agreed with Bowah, TD no company base also can HUAT, but government abolish long long time ago.....left those yellow top, I think about 400 plus from LTA website still surviving......all lao kok kok drivers including their taxi cause cannot transfer ownership Liao ma.....so no choice, cheap cheap also lease out.....
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Originally posted by Red5xx:
ah pool mai discribe untill like that le........
just curious,
drive cdg can more HUAT than drive other cop?
cdg driver earn more?
Some said their calls , if nice one , cos the calls come in real fast , save time , hence make easier bucks .Like that .
But hor , Woodlands also must go if kena call , sorry , i had enough of that treatment .
CDG got so many Hougang , Punggol , Sengkang , Yishun , AMK , Sembawang , CCK , Bt Panjang , Woodlands regulars , until i surrender .
Cos these people call whichever companies , no people take their call one if got destination shown on MDT or by radio calls . Only Comfort they can get thru , and high chance ( 16000 cabs ) on for them .
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Aiya, bro Pool, some of us also live in the those bukits, gangs, gol and wood mah, our families member also need to take cab sometimes, all these places occupy nearly 1/3 of singapore land with peoples, as a TD, we must serve them, at times, they also provide good connection, like pick one from sentosa to woodland, then woodland got call to KTP hospital, then from yishun pick one at safra into Suntec, no bad lah.
Like it or not, I busybody go ask CDG for a normal auto cab, 3 months waiting, I call defu for a Wish, immediate, silver magnetis, immediate, that tell us alot of stories, if cannot beat them, join them lor.
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drive CDG not necessary need to take their calls.......
im a gd example....... i make more when i sweep than take company calls........