ComfortDelGro’s net profit up 7.7% to $283.5m in FY14

On back of higher bus, rail, and taxi revenue.

ComfortDelGro’s net profit grew 7.7% to $283.5 million in FY14, on back of double-digit revenue growth for its bus, rail, and taxi segments.

Bus revenue increased 10.4% to $2.06 billion, crossing the $2 billion-mark for the first time. Revenue growth was boosted by the full-year contribution from Metroline West in the United Kingdom and a favourable currency translation of $31.1 million.

In Singapore, revenue from the scheduled bus business increased by 10.6% to $754.7 million from an increase in average daily ridership and average fares, higher rentals from lease renewals, an increase in advertising sales and other operating income.

At Group level, full-year revenue for the taxi business increased by 7.2% to $1.28 billion, with actual revenue growth aided by a positive foreign currency translation effect. In Singapore, revenue from the taxi business was 7.7% higher at $961.2 million due to a larger operating fleet, higher rental income from the replacement of taxis and an increase in the volume of cashless transactions.

Revenue from the rail business increased by 19.5% to $196.8 million due to the maiden contribution from Downtown Line 1 and increases in average daily ridership and average fares. Average daily ridership for NEL and