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Fuel and electricity costs, for example, jumped 37.8 per cent to .7 million, while materials and consumables (diesel purchases) soared 48.6 per cent to .2 million.
These were mitigated by lower vehicle leasing charges, lower repair and maintenance, and the writeback of pension provisions.
adapted from Land Transport Authority (LTA, Singapore) In the midst of high growing demand for taxi services, the Comfort Delgro Group revised its taxi fare structure to better match supply.
The new fare structure comprises of widening the peak hour surcharge from 6am to am in the morning in contrast with the usual 7am to am.
But operating profit of .4 million was 36 per cent lower from a year ago because of higher fuel costs.
Overall, total operating profit dipped 15.6 per cent to .6 million.In Singapore, SBS Transit’s turnover grew 8.7 per cent on increases in bus ridership and rental income.But operating profit was 32 per cent lower from a year ago because of higher fuel costs.Comfor Del Gro said Q3’s overseas turnover accounted for 42.2 per cent of total group turnover, down from nearly 48 per cent a year ago, with the long-stated goal to derive half of group revenue from abroad facing a speed hump in the form of a depreciating British pound.
Otherwise, the group said Q3’s group operating profit was 50 per cent higher compared with Q2 due to improvements across all businesses.
The Singapore taxi business saw turnover inch up 2.7 per cent in Q3 to 8.2 million.