ComfortDelgro's Q3 profits up 2.5% to $87.3m

Its strong performance was shadowed by forex headwinds.

ComfortDelGro Corporation’s third quarter revenue decreased by $32.4m or 3.1% to $1.015b.

Actual revenue increased by $15.5m during the quarter but this was eroded by a negative foreign currency translation effect of $47.9m due to the weaker Pound and Renminbi.

Operating costs fell by $30.6m or 3.3% to $888.2m as an increase of $12.4m in actual operating costs was offset by a positive foreign currency translation effect of $43m.

Net profit attributable to shareholders increased by $2.1m or 2.5% to $87.3m for the quarter ended 30 September 2016.

The management guided that bus revenue in Singapore and Australia is expected to be maintained while revenue from the UK bus business is expected to decrease with the weaker Pound.

Revenue from the rail business is expected to increase with higher ridership.

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