I was quite anticipating the results from Comfortdelgro and even more so after reading the results in the previous week by Vicom and SBS where both increased their payout to issue higher dividends to shareholders.
I mentioned previously that I thought there was a good decent chance that Comfortdelgro might maintain their dividend as last year despite the poorer taxi division due to the better cashflow that they have. This remains something which I am taking a close look still.
In terms of earnings for the Q2, revenue was down 3% while nopat was down 9% year on year.
Revenue for the taxi division was down by more than 10% due to the lower leasing fleet and higher competition. You can see that in the overhead driver’s benefits also quickly went down so margins are steady but it was still a very strong decline.
The public transport did much to …