SINGAPORE (May 15): Analysts believe the worst might be over for ComfortDelGro Corporation, on the back of its recent acquisitions and improving outlook for its taxi segment.
CDG saw its earnings fall 19.6% to $66.3 million for the 1Q ended March, even as revenue fell across all its divisions except the bus and rail segments.
The lower 1Q18 earnings was mainly attributable to the non-recurrence of $10.0 million in special dividends received from Cabcharge Australia in 1Q17, as well as higher operating costs.
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