SMRT's Q2 profit down 57% at $14.3m
Higher staff and depreciation expenses, as well as repair and maintenance costs, put the brakes on SMRT Corp's net profit in the second quarter ended Sept 30, 2013, causing it to plunge 57.1 per cent to S$14.3 million, even as revenue rose 5.3 per cent to S$296.3 million.
Earnings per share for Q2 were 0.9 Singapore cent, down 56.8 per cent from 2.2 Singapore cents in the corresponding period a year ago.
An interim dividend of one cent per share has been declared.
For the first half, Singapore's main rail operator, which also runs buses and taxis, posted a net profit S$30.6 million, down 56.1 per cent from the same period last year.
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