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ComfortDelGro posts 56% growth in 1Q21 PATMI, announces plans to unlock value in Australia

Atiqah Mokhtar
Atiqah Mokhtar5/12/2021 6:52 PM GMT+08  • 2 min read
ComfortDelGro posts 56% growth in 1Q21 PATMI, announces plans to unlock value in Australia
CDG announced that it is exploring various options to unlock the value of its assets in Australia.
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ComfortDelGro Corporation (CDG) posted a profit after tax and minority interest (PATMI) of $56.2 million for the 1QFY2021 ended March, up 56,1% y-o-y from $36 million previously.

The higher PATMI comes despite a 0.7% y-o-y dip in revenue to $856.3 million. Revenue included government relief of $8.1 million, primarily from the UK. Excluding government relief, revenue fell 1.6% or $14.2 millon, most driven by its taxi and automotive engineering services segments.

Total operating costs fell 3.9% or $31.5 million y-o-y for the 1QFY2021, primarily due to worker-related government relief of $25.3 million.

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