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ComfortDelGro posts 2% lower 3Q earnings; to set up new US$100 mil global VC fund

Michelle Zhu
Michelle Zhu11/9/2018 05:39 PM GMT+08  • 3 min read
ComfortDelGro posts 2% lower 3Q earnings; to set up new US$100 mil global VC fund
SINGAPORE (Sept 9): ComfortDelGro Corporation (CDG) posted $78.5 million in earnings for the 3Q ended Sept, representing a 2% decline from earnings of $80.1 million a year ago due to lower dividends received from its overseas subsidiary, Cabcharge Austral
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SINGAPORE (Sept 9): ComfortDelGro Corporation (CDG) posted $78.5 million in earnings for the 3Q ended Sept, representing a 2% decline from earnings of $80.1 million a year ago due to lower dividends received from its overseas subsidiary, Cabcharge Australia.

Revenue for the quarter grew 8.5% on-year to $967.9 million from $891.7 million, driven by increased contributions from new acquisitions.

Operating costs rose 9.5% to $854.5 million due to higher staff costs incurred from the support of SBS Transit’s Seletar Bus package, as well as higher mileages operating and new services & staff costs from newly-acquired subsidiaries, among others.

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