SBS Transit profit down 53.4% to $4.6m

Net income from investments of $0.1m for 2Q12 was 17.9% lower than 2Q11.

SBS Transit reported that Group revenue of $196.2m for 2Q12 increased by 5.7% or $10.5m from $185.7m in 2Q11 while Group operating expenses of $190.5m increased by 9.8% or $17.0m from $173.5m in 2Q11.

Finance costs of $0.5m for 2Q12, on the other hand, was 28.6% or $0.1m higher than that of $0.4m in 2Q11.

Meanwhile taxation for 2Q12 of $0.7m was lower by 65.9% or $1.3m due mainly to the lower profits in 2Q12.

Group profit attributable to shareholders for 2Q12 of $4.6m was 53.4% or $5.2m lower than that of $9.8m in 2Q11.

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