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ComfortDelGro recovering from bumpy 2020, ‘slowly but surely’: analysts

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ComfortDelGro recovering from bumpy 2020, ‘slowly but surely’: analysts

Jovi Ho Published on Fri, Nov 13, 2020 / 3:53 PM GMT+8

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Taxi operator ComfortDelGro may have had a bumpy 2020, but the company is getting out, “slowly but surely”, say analysts. Six brokerages recommend ‘buy’', ‘add’ or 'outperform' on ComfortDelGro following its 3Q20 results this week.

For the quarter, ComfortDelGro reported profit after tax and minority interest of $21.7 million, down 69% y-o-y, as the Covid-19 pandemic continues to hurt travel volume across the various markets it operates. Revenue in the same period was down 16.3% y-o-y to $816.5 million.

See: ComfortDelGro reports PATMI of $21.7 million, down 69% y-o-y