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ComfortDelGro has more room to move thanks to the reopening

Samantha Chiew
Samantha Chiew5/18/2022 04:32 PM GMT+08  • 4 min read
ComfortDelGro has more room to move thanks to the reopening
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Analysts are seeing taxi and public transport operator ComfortDelGro (CDG) as a beneficiary to Singapore’s reopening, as mobility gradually trends towards normalisation. With more room to move, the reopening is expected to drive sequential growth for CDG.

This is already underway as CDG recently reported its 1QFY2022 ended March results, which saw PATMI increase by 30.4% y-o-y to $76.7 million, while revenue grew by 3.9% y-o-y to $895.9 million, thanks to higher contribution across most of the group’s business segment, except its taxi segment.

During the period, CDG also noted that public transport ridership is “slowly improving”, while its rail ridership stood at around 65% to 70% of pre-pandemic levels.

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