Transport operator SBS Transit posted a 23.3 per cent increase in earnings to $20.7 million for the first quarter ended March 31 as better margins from bus contracts continued to flow in.
Revenue crept up by 6.9 per cent to $350.8 million, ahead of a 5.5 per cent rise in operating expenses to $324.5 million. Earnings per share rose from 5.39 to 6.63 cents. Net asset value per share stood at $1.64, up from $1.60 at the end of last year. SBST's profit margin before interest, tax and depreciation improved to 14.8 per cent, up from 13.6 per cent in the previous corresponding quarter.
Average daily ridership on the Downtown MRT Line grew by 10.4 per cent to 476,000 trips. Ridership on the more mature North East Line grew by 3.2 per cent to 603,000 trips. The SengkangPunggol LRT also saw a 10.4 per cent rise in ridership to 141,000 trips.
Can we have 23% improvement on punctuality too
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