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Analysts apprehensive of ComfortDelGro's growth amid higher operating expenses

Amala Balakrishner
Amala Balakrishner11/14/2019 06:37 PM GMT+08  • 2 min read
Analysts apprehensive of ComfortDelGro's growth amid higher operating expenses
SINGAPORE (Nov 14): Most analysts remained neutral on mainboard-listed ComfortDelGro Corporation after it posted a 10.8% fall in 3Q19 net profit to $70 million.
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SINGAPORE (Nov 14): Most analysts remained neutral on mainboard-listed ComfortDelGro Corporation after it posted a 10.8% fall in 3Q19 net profit to $70 million.

However, Maybank Kim Eng Research is more optimistic about the transport giant’s future – it could see increased profits soon due to higher rail fees and reduced public transport margins.

ComfortDelGro’s weakening taxi business has been cited as cause for the net earnings dip. Income from its shrinking cab fleet – which at 11,000 is the company’s lowest in nearly 20 years – dipped 9.6%.

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