SMRT's Q3 net profit jumps 58%
TRANSPORT operator SMRT posted a 58.4 per cent year-on-year increase in net profit to $22.55 million for the third quarter ended Dec 31, as its business segments turned in better performances.
Revenue climbed 6.8 per cent to $313.19 million while earnings per share rose to 1.5 cents, up from 0.9 cent in the corresponding quarter a year earlier.
SMRT said: "The business environment continues to be challenging due to structural cost pressures arising from tightened regulatory standards and heightened operational demands on service, reliability and capacity.
"The impact of the overall rising costs will be partially mitigated next year by the recently approved fare adjustments, the recent decline in energy prices and the group's ongoing productivity and cost management efforts."
Shares in SMRT closed at $1.73 yesterday, up 1.5 cents.
THE BUSINESS TIMES