ComfortDelGro Corporation Limited (SGX: C52), or CDG, is seeing some recovery in its operations after a tepid year and a half.
One of the world’s largest transportation companies, the group owns a fleet of around 40,000 buses, taxis and rental vehicles with operations that span seven countries including Singapore, Australia and the UK.
The group recently reported a turnaround for its latest fiscal 2021 half-year results (1H2021), chalking up a net profit of S$91 million, a sharp reversal from a net loss of S$6.6 million in the prior year.
However, CDG continues to reinvent itself as it undertakes a broad-based strategic review aimed at unlocking value for its shareholders.
The group surprised the market last week with the announcement of the award of a S$1.1 billion rail contract in Auckland, New Zealand.
However, shares of CDG have remained lacklustre this year, remaining flat year-to-date despite improved sentiment and better economic conditions....