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%.
For more insights on corporate trends...
Sign In or Create an account to access our premium content.
Subscription Entitlements:
Less than $9 per month
Unlimited access to latest and premium articles
3 Simultaneous logins across all devices
Bonus unlimited access to online articles and virtual newspaper on The Edge Malaysia (single login)