ComfortDelGro's profit dipped 4.9% to $301.5m in 2017

This was due to a 2.2% decline in revenue.

ComfortDelGro Corporation Limited reported that its profit fell by 4.9% YoY from $317.1m to $301.5m in 2017.

According to its financial statement, this was due to lower group profit after taxation, but was partially offset by higher profits from the purchase of 49% interest in ComfortDelGro Corporation Australia.

Revenue also inched down by 2.2% YoY from $4.06b in 2016 to $3.97b in 2017.

This was dragged by revenue from CDG’s taxi (-9.9% to $1.21b), automotive engineering services (-14.3% to $283.4m), car rental and leasing (-13.5% to $31.5m), inspection and testing services (-2.9% to $104m), and bus station (-4.8% to $25.6m) business units.

The declines were offset by public transport services (+3.6% to $2.39b) and driving centre (+5.5% to $42.2m) business units.