SBS Transit has reported a 7.7% y-o-y decline in earnings for the 1HFY2025 ended June 30, of $31.1 million.
The group’s revenue for 1HFY2025 declined 4.5% y-o-y to $745.9 million, and operating profit declined 1.7% y-o-y to $34.1 million.
As such, diluted earnings per share came in 7.9% y-o-y lower at 9.94 cents per share for 1HFY2025.
The decline in revenue was due to the loss of the Jurong West bus package in August 2024, which was partially offset by higher average rail fares. Group operating costs decreased to $711.8 mil due to lower fuel and electricity costs arising from lower average electricity tariffs and diesel prices, and lower repairs and maintenance costs.
The group’s revenue from its public transport services decreased 5.1% y-o-y, even as average daily ridership on its rail network continued to grow.
Revenue from other commercial services increased by 11.9% y-o-y as higher digital advertising revenue coupled with the SG60 advertisement campaign on buses contributed to an increase in operating profit of 28.3% to $9.9 million. This was despite a partial offset from the higher advertising concession fee.
See also: Creative remains in the red for FY2025; guides for better FY2026
The board of directors has declared a tax-exempt one-tier interim dividend of 8.95 cents per share.
Shares in SBS Transit closed 3 cents lower or 0.926% down at $3.21 on Aug 11.
