SBS Transit reports operating profit of $38.17m for H1 2021

This is an 18.5% increase compared to this period in the previous year.

SBS Transit reported an increase of 18.5% to their group operating profit, totalling $38.17m.

The group credits the government relief fund for cushioning the effects COVID since, without the $34.6m funds, profits would have dipped to $3.6m for the half-year. Effects of the pandemic include less ridership and advertising income. 

Net profit attributable to shareholders, meanwhile, reached $36.5m, an 11.9 increase from last year. 

Group revenue for the first half of 2021 also jumped by 6.2% to $640.8m.

SBS Transit CEO Cheng Siak Kian, however, maintained that this first half only signals for them to be more cautious as the second half approaches.

“As we enter the second half-year, there are still many uncertainties with regard to the trajectory of the virus which is compounded by the emergence of more contagious Delta variant. This may delay the pace of recovery of the economy and the ridership of our trains. In view of this, we maintain a cautious outlook for the rest of the financial year.”