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CGS-CIMB is optimistic on SBS Transit's post-Covid-19 prospects

Samantha Chiew
Samantha Chiew3/2/2022 11:35 AM GMT+08  • 4 min read
CGS-CIMB is optimistic on SBS Transit's post-Covid-19 prospects
As Singapore moves towards an endemic, CGS-CIMB is upbeat on SBS Transit's prospects.
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CGS-CIMB Research is keeping its “add” call on SBS Transit but with a slightly lowered target price of $3.40 from $3.50 previously. The research house is optimistic on SBS’ recovery prospects as Singapore moves towards an endemic.

In its latest FY2021 ended December 2021 results, SBS reported earnings of $51.6 million, some 34.6% lower y-o-y, despite revenue increasing 6.5% to $1.31 billion.

Full year operating loss, excluding government relief, has been reduced from $29.8 million for FY2020 to just $2.77 million for FY2021.

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