Bus business profitable for ComfortDelGro
Singapore based transport provider, ComfortDelGro, reported a record full year revenue for 2013, increasing by 5.7% to £1.78bn/SGD3.75bn. At group level, its operating profit went up 3.4% to £202.8m/SGD426.3m. The largest percentage of growth came from the group’s overseas bus operations, making up 92.3% of its bus business. The company’s public scheduled bus operations in Singapore under SBS Transit incurred an operating loss of £6.8m/SGD14.3m.
ComfortDelGro’s UK bus business continued to be the group’s single largest contributor to its overeas bus revenue in 2013, clocking a 24.1% increase to £318.9m/SGD671m. Contributing to this better performance was a rise in mileage and contract price adjustments, as well as the first contribution of Metroline West, which joined the group in July 2013 from FirstGroup. Revenue in its Scottish Citylink operation, which operates intercity coach services in partnership with Stagecoach, registered a 6.1% increase to £40.7m/SGD85.7m due to new services added.