Being a land transport conglomerate during a pandemic is no easy task.
Just ask ComfortDelGro Corporation Limited (SGX: C52), or CDG.
While the country is back in Phase 3 again, work-from-home remains the default, reducing demand for public transportation and taxi service..
CDG is coping with the situation the best it can.
For its fiscal 2021’s first quarter (1Q2021), the transport giant reported a slight 0.7% year on year decline in revenue to S$856.3 million.
With a boost of S$33.4 million in COVID-19 reliefs, CDG’s operating profit rose by 45.4% year on year to S$81.3 million.
Without these reliefs, operating profit would have dipped by 14.3% year on year to S$47.9 million.
The group has, however, announced a strategic review last month to transform its business.
What does this reinvention entail?
And should investors get excited over this news?...