ComfortDelGro reports FY2023 earnings of $180.5 mil, 4.3% higher y-o-y

Felicia Tan
1-min read

The group has proposed a final dividend of 3.76 cents per share, bringing FY2023’s total dividend to 6.66 cents a share.

ComfortDelGro has reported earnings of $180.5 million for the FY2023 ended Dec 31, 2023, 4.3% higher y-o-y.

Without the one-off gain of $30.5 million from the disposal of the Alperton property in London, earnings rose by 26.6% y-o-y.

Revenue rose by 2.6% y-o-y to $3.88 billion with better performance seen from the taxi and private hire segment as personal transport demand in Singapore remained high.

“We are encouraged by our strong performance and the sustained recovery across all segments in 2023. Our global rail business has demonstrated notable growth, as shown by our recent successes in Europe," says Cheng Siak Kian, managing director and group CEO of ComfortDelGro C52.

"We remain focused on executing our strategy by leveraging our expertise in public transport to win new tenders in existing and new geographies, growing our point-to-point mobility business and expanding our service offerings in our key markets,” he adds.

The group has proposed a final dividend of 3.76 cents per share, bringing FY2023’s total dividend to 6.66 cents a share, representing a payout ratio of 80%.

As at Dec 31, 2023, cash and cash equivalents stood at $856.9 million.

Shares in ComfortDelGro closed 2 cents lower or 1.46% down at $1.35 on Feb 29.

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