Its operating profit for 1HFY2022 was up 12.6% y-o-y, thanks to a recovering economy which led to higher ridership.
“We are seeing a steady increase in rail ridership as more workers return to the workplace with the gradual easing of COVID19 measures,” says CEO Cheng Siak Kian.
“However, it's still early days to say if ridership will recover to pre-Covid 19 levels due to hybrid work arrangements and we are closely monitoring the situation.
“Meanwhile, the tight labour market and the spike in energy prices remain as key challenges for our business. In spite of these, our commitment in operating reliable bus and train services for our passengers remains steadfast,” he adds.
The company plans to pay an interim dividend of 5.45 cents per share, representing a payout ratio of 49.1%.
See also: Jardine Matheson posts loss of US$468 mil, but underlying net profit stood at US$1.47 bil
SBS Transit shares closed at $2.84 up 0.35%.
