Home Capital Results

ComfortDelGro reports 30.4% higher 1QFY2022 PATMI of $76.7 mil

Felicia Tan
Felicia Tan5/13/2022 8:54 PM GMT+08  • 2 min read
ComfortDelGro reports 30.4% higher 1QFY2022 PATMI of $76.7 mil
ComfortDelGro taxis. Photo: CDG
Font Resizer
Share to WhatsappShare to FacebookShare to LinkedInMore Share
Scroll to top
Follow us on Facebook and join our Telegram channel for the latest updates.

ComfortDelGro (CDG) reported PATMI of $76.7 million for the 1QFY2022 ended March, 30.4% higher than PATMI of $58.8 million in the same period the year before.

During the period, revenue increased by 3.9% y-o-y to $895.9 million due to higher revenues across the group’s business segments, except its taxi segment.

Operating costs increased by 8.4% y-o-y to $731.9 million due to higher costs across all its segments, except the taxi segment.

EBITDA fell 12.3% y-o-y to $164.0 million.

Operating profit excluding non-recurring items fell 18.3% y-o-y to $69.3 million.

See also: NetLink NBN Trust posts 1% increase in FY2022 DPU to 5.13 cents

During the quarter, CDG reported a net gain on disposal of $37.9 million, 126.3 times higher than the net gain of $0.3 million in the same period the year before. The higher net gain was mostly from the gain on disposal of CDG’s Alperton property in London.

As a result, operating profit increased by 26.0% y-o-y to $107.2 million.

Operating profit before Covid-19 government relief increased by 98.3% y-o-y to $102.5 million.

Profit after tax (PAT) increased by 23.1% y-o-y $85.4 million.

See also: Frencken Group posts 12.6% drop in 1Q earnings to $12.8 mil on lower margins, higher expenses

As at end-March, net asset value (NAV) per share increased by 3.4% y-o-y to 129.2 cents.

As at end-March, CDG’s net cash position stood at $614.5 million.

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

Shares in ComfortDelGro increased 2 cents or 1.44% up at $1.41 on May 13.

×
Loading next article...
The Edge Singapore
Download The Edge Singapore App
Google playApple store play
Keep updated
Follow our social media
Subscribe to The Edge Singapore
Get credible investing ideas from our in-depth stock analysis, interviews with key executives, corporate movements coverage and their impact on the market.
© 2022 The Edge Publishing Pte Ltd. All rights reserved.