Higher fares and rail ridership, coupled with increased taxi commission rates, are set to boost ComfortDelGro to a strong start in Q1.
“As domestic rail ridership continues to recover, we expect a similar uptrend in March 24 which would help boost Q1 profitability for CD's public transport services segment, backed further by higher rail fares implemented in December 2023 along with increased margins from ongoing UK bus contract renewals,” said UOBKH analysts Llelleythan Tan Yi Rong and Heidi Mo.
New contributions will register from Q3 2024 onwards and drive earnings growth in CDG’s taxi segment.
Source: News Formal (newsformal.com)
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