Middle East war hits ComfortDelGro’s UK taxi business; Q1 profit down 16.1%
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ComfortDelGro's net profit fell 16.1% to S$40.5 million in Q1, impacted by challenges in the UK taxi and private-hire business due to reduced airport transfers amid the Middle East conflict. Revenue rose 5% to S$1.2 billion, with public transport revenue up 7.2%. However, the taxi segment's revenue dropped 7.1% to S$239.7 million, and operating profit fell 46.7% to S$17.1 million. CDG's overall operating costs increased by 7.4% to S$1.1 billion, while net debt improved to S$659.9 million as of March 31.
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