ComfortDelGro posts 4.3% YoY higher net profit in FY23

Profit attributable to the company’s shareholders was $180.5m.

ComfortDelGro recorded a 4.3% YoY higher profit attributable to its shareholders of $180.5m in FY23.

The company also recorded a 2.6% YoY or $99.5m higher group revenue of $3.88b for the period on the back of increases in its different business segments, including Public Transport, which saw a 2.5% YoY uptick in revenue ($2.96b).

Other segments which recorded revenue increases were the Taxi / PHV Business (+3.6% YoY; $574.7m), Inspection and Testing Services (+3.3% YoY; $109.5m), and Other Segments (+10.8% YoY; $93.0m).

With improved financial performance, the company proposed a final tax-exempt one-tier dividend of $0.0376  per share, representing a payout ratio of 80%.