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SBS in 'good position' to raise dividend payout ratio by end-FY2022: CGS-CIMB

Felicia Tan
Felicia Tan8/12/2022 05:23 PM GMT+08  • 2 min read
SBS in 'good position' to raise dividend payout ratio by end-FY2022: CGS-CIMB
CGS-CIMB's Ong expects the group to reach 85% of its pre-Covid-19 levels by the end of the year
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CGS-CIMB Research analyst Ong Khang Chuen has kept his “add” call on SBS Transit with an unchanged target price of $3.40 as the public transport operator’s net profit of $19 million for the 2QFY2022 ended June stood in line with his expectations.

The 45% y-o-y improvement in the quarter’s net profit showed “good earnings recover riding on Singapore’s reopening”, notes Ong.

In his report dated Aug 10, the analyst foresees SBS Transit to see further rail ridership recovery in the remainder of the FY2022 albeit at a slower pace compared to the trajectory seen in the past three months.

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