ComfortDelgro post record Q1 profit after raise in taxi and bus revenue

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http://statestimesreview.com/2015/05...d-bus-revenue/

ComfortDelgro post record Q1 profit after raise in taxi and bus revenue

admin / 15 hours ago May 13, 2015


Singapore’s public transport conglomerate which own Singapore Bus Service (SBS), ComfortDelgo, has posted a record S$67.6 million profit in the three months ended March. This result is 5% better than the same quarter a year ago.
The record profit posted is built by higher revenue from public buses, public trains and taxis. Train ridership for the North-East line increased by 5.2% to 526,000 rides per day while the new Downtown Line 1, Punggol LRT ridership grew by a whopping 24.1% to 67,000 and Sengkang LRT ridership grew by 13.3% to 95,000 rides a day. ComfortDelgro said they expect revenue to rise further following the rise in ridership and public transport fares.
In April 5 last month, the Singapore Government approved a 2 to 5% increase in public fare.
Photo of Lui Tuck Yew from The Straits Times

Do you think it is ethical of the Singapore Government to allow public fare to increase while public transport operators like ComfortDelgro post record profits?

May 13, 2015 in Featured, Latest News.


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