SMRT posts 7% rise in H1 earnings to S$82.9m
Posted: 31 October 2008 2222 hrs

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SINGAPORE: Singapore transport operator SMRT has booked a seven per cent climb in first half earnings to S$82.9 million.

The increase was attributed to higher operating profits.

Revenue for the six months ended September grew by 13 per cent to S$443 million.

For the second quarter alone, net profit rose by 7.7 per cent to S$42.6 million - driven by higher ridership in trains and buses, as well as growth in its rental and advertising space.

For its fiscal third quarter, SMRT is expecting growth from rental revenue as well as higher revenue from its train and bus operations.

But it is expecting operations in 2009 to be difficult.

SMRT has recommended an interim dividend of 1.75 cents per share.

- CNA/yt