28 Apr '16, 2pm

MOTHERSHIP | Congrats SMRT! Full-year profit up 20.1 per cent for FY2016.

MOTHERSHIP | Congrats SMRT! Full-year profit up 20.1 per cent for FY2016.

SMRT has recorded a net profit of S$109.3 million for Fiscal Year (FY) 2016. The public transport operator said in a news release on Thursday, April 28, this is up 20.1 per cent from the full-year net profit of S$91 million a year ago. Group revenue increased 4.9 per cent to $1.37 billion in FY2016, while operating profit improved 14.6 per cent to S$138.5 million. — Rail operations Overall, rail operations reported a operating profit of S$7.4 million in FY2016, slightly lower than the S$9.6 million in FY2015. SMRT added that the operating profit recorded in FY2016 included a net property tax refund of S$17.1 million relating to prior years’ over assessment. Without this tax refund, rail operations would have suffered an operating loss of S$9.6 million. — The operating profit from SMRT’s non-rail businesses increased 22.6 per cent to S$133.3 million in FY2016. Bus operation...

Full article: http://mothership.sg/2016/04/congrats-smrt-full-year-prof...

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