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01-05-2014, 11:10 PM
An honorable member of the Coffee Shop Has Just Posted the Following:
http://www.straitstimes.com/news/bus...-time-20140501 (http://www.straitstimes.com/news/business/companies/story/smrt-reports-25m-loss-core-business-the-first-time-20140501)
SMRT reports $25m loss in core business for the first time
Rail business battered by rising costs, bus operations also see sizeable loss
Published on May 1, 2014 8:46 AM
1122 569 0 0 PRINT EMAIL
Transport operator SMRT Corp has, for the first time, lost money on its core business of operating trains and buses. -- ST FILE PHOTO: KUA CHEE SIONG
By Christopher Tan Senior Transport Correspondent
Transport operator SMRT Corp has, for the first time, lost money on its core business of operating trains and buses.
Yesterday, it reported a loss of $25 million on its fare businesses for the financial year ended March 31, pulling down its overall net earnings to an 11-year low of $61.9 million.
The Temasek-owned group's once lucrative rail business continued to be battered by rising costs, while its moribund bus unit continued to bleed.
Even though train services saw a 2.9 per cent increase in ridership, operating profit dropped sharply from $65.1 million the year before to just $5.5 million.
Click here to view the whole thread at www.sammyboy.com (http://www.sammyboy.com/showthread.php?180713-25M-lost-SMRT-HUAT-AH!&goto=newpost).
http://www.straitstimes.com/news/bus...-time-20140501 (http://www.straitstimes.com/news/business/companies/story/smrt-reports-25m-loss-core-business-the-first-time-20140501)
SMRT reports $25m loss in core business for the first time
Rail business battered by rising costs, bus operations also see sizeable loss
Published on May 1, 2014 8:46 AM
1122 569 0 0 PRINT EMAIL
Transport operator SMRT Corp has, for the first time, lost money on its core business of operating trains and buses. -- ST FILE PHOTO: KUA CHEE SIONG
By Christopher Tan Senior Transport Correspondent
Transport operator SMRT Corp has, for the first time, lost money on its core business of operating trains and buses.
Yesterday, it reported a loss of $25 million on its fare businesses for the financial year ended March 31, pulling down its overall net earnings to an 11-year low of $61.9 million.
The Temasek-owned group's once lucrative rail business continued to be battered by rising costs, while its moribund bus unit continued to bleed.
Even though train services saw a 2.9 per cent increase in ridership, operating profit dropped sharply from $65.1 million the year before to just $5.5 million.
Click here to view the whole thread at www.sammyboy.com (http://www.sammyboy.com/showthread.php?180713-25M-lost-SMRT-HUAT-AH!&goto=newpost).