ComfortDelGro’s half year results

ComfortDelGro, the Singapore based transport group that owns London operators Metroline, Armchair Passenger Transport and Westbus Coach Services Ltd, as well as having a joint venture with Stagecoach to run the Scottish Citylink Coaches Ltd operation, has reported a rise in revenue for the first half of its financial year ending 30 June 2015. Its revenue amounted to SGD2,000.7m/£903m (H1 2014: SGD1,967.1m/£887.83m), a rise of 1.7%. Its EBITDA rose 4.5% to SGD411.7m/£185.82m (H1 2014: SGD394.1m/£177.87m).

At Group level, second quarter revenue from ComfortDelGro’s bus business increased by 4.1% to SGD538.6m/£243.09m. The actual increase in revenue of SGD38.4m/£17.33m was partially eroded by a negative foreign currency translation effect of SGD17m/£7.67m. Revenue from overseas bus operations continued to account for the bulk of Group bus revenue, amounting to 58.8%. In Singapore, revenue from the bus business increased by 15.6% to SGD221.8m/£100.11m with a significant part of the increase coming from services provided for the SEA Games. Revenue from the bus businesses in the UK and Australia fell by 0.6% to SGD222.7m/£100.51m and 7% to SGD94.1m/£42.47m respectively due mainly to the negative currency translation effect.