“We are fully committed to strengthening the level of service and reliability of our public transport services and meeting the network’s higher capacity needs and operational requirements. We remain focused on our multi-year programmes to renew and upgrade the ageing rail network and will continue to pursue business growth in line with our core competencies.”
SMRT’s President and Group Chief Executive Officer, Mr Desmond Kuek
SMRT announces its 2Q FY2016 results on 27th October 2015. The group revenue increased 4.7% to $328.8 million. Operating expenses rose 7.1% to $313.6 million. The increase in operating expenses was due mainly to higher repairs and maintenance costs, staff costs, depreciation, and other operating expenses. Operating profit was $32.5 million which is 2.4% lower as compared to 2Q FY2015.
SMRT business can be grouped into Fare Business and Non-Fare Business.
The Group’s overall fare business recorded an operating loss of …