ComfortDelGro's earnings to increase up to 3% by 2021

Its petrol sales may offset declining diesel sales.

OCBC Investment Research reported a forecast of ComfortDelGro Corporation (CDG)’s earnings, rising slightly by 1% to 3% from 2018 to 2022.

CDG is scaling up on its petrol station business to serve the rising fleet of hybrid taxis this year, but it may not increase much of its earnings. The petrol station may offset the declining diesel sales if it starts to serve Uber’s larger private hire car fleet, OCBC Research said.

CDG’s partnership with Uber may also help stabilise its taxi operations.

Meanwhile, CDG’s revenue is forecasted to decline to $3.85m YoY in 2018.

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