Mllcg 3rd Gear February 6, 2012 Share February 6, 2012 http://www.channelnewsasia.com/stories/sin...1180163/1/.html SINGAPORE : Public transport operator SMRT Corp has posted a 13.9 percent decline in net profit for its third quarter. For the three months ended December 31, net profit fell to S$37.01 million from S$43 million a year ago. The lower profit came despite group revenue rising 10.0 per cent in the same period. SMRT's revenue rose to S$268.2 million from S$243.9 million in the same quarter last year. The increase in revenue is due to higher train and bus ridership, higher taxi rental revenue, as well as higher rental and advertising revenue. However, SMRT says during a phone conference that the higher operating expenses can be attributed to declining profit margins. SMRT's executive vice president and chief financial officer Ms Catherine Lee says the company has hedged diesel fuel and electric power to mitigate the effects of possible spikes in energy costs. She adds that "expenses arising from the recent MRT disruptions incurred this quarter were not significant," but acknowledged that the "profitability of the train operations will be impacted by the consequential costs arising from the recent MRT service disruptions" in the next 12 months. Looking ahead, Ms Lee says that SMRT's revenue is expected to rise further in the fourth quarter. But she warns that rising cost pressures, particularly energy costs and staff and related costs, will continue to thin out SMRT's profit margins. Earnings per share in the third quarter fell 14.0 per cent, down from 2.281 cents a year ago to 2.20 cents. - CNA/ch ↡ Advertisement Link to post Share on other sites More sharing options...
Throttle2 Supersonic February 6, 2012 Share February 6, 2012 http://www.channelnewsasia.com/stories/sin...1180163/1/.html SINGAPORE : Public transport operator SMRT Corp has posted a 13.9 percent decline in net profit for its third quarter. For the three months ended December 31, net profit fell to S$37.01 million from S$43 million a year ago. The lower profit came despite group revenue rising 10.0 per cent in the same period. SMRT's revenue rose to S$268.2 million from S$243.9 million in the same quarter last year. The increase in revenue is due to higher train and bus ridership, higher taxi rental revenue, as well as higher rental and advertising revenue. However, SMRT says during a phone conference that the higher operating expenses can be attributed to declining profit margins. SMRT's executive vice president and chief financial officer Ms Catherine Lee says the company has hedged diesel fuel and electric power to mitigate the effects of possible spikes in energy costs. She adds that "expenses arising from the recent MRT disruptions incurred this quarter were not significant," but acknowledged that the "profitability of the train operations will be impacted by the consequential costs arising from the recent MRT service disruptions" in the next 12 months. Looking ahead, Ms Lee says that SMRT's revenue is expected to rise further in the fourth quarter. But she warns that rising cost pressures, particularly energy costs and staff and related costs, will continue to thin out SMRT's profit margins. Earnings per share in the third quarter fell 14.0 per cent, down from 2.281 cents a year ago to 2.20 cents. - CNA/ch eh i read left and right, up and down but i dont see any loss for qtr3 leh.... Link to post Share on other sites More sharing options...
Vhtfhwlego Supercharged February 6, 2012 Share February 6, 2012 Bye bye to saw save SMRT how many millions? Link to post Share on other sites More sharing options...
Rainman 1st Gear February 6, 2012 Share February 6, 2012 loss in revenue = projected net profit reduced. eg; Possibly year end bonus from 33 months become 31 months, A hio boh? Link to post Share on other sites More sharing options...
I-LOVE-CARS 1st Gear February 6, 2012 Share February 6, 2012 (edited) http://www.channelnewsasia.com/stories/sin...1180163/1/.html SINGAPORE : Public transport operator SMRT Corp has posted a 13.9 percent decline in net profit for its third quarter. For the three months ended December 31, net profit fell to S$37.01 million from S$43 million a year ago. The lower profit came despite group revenue rising 10.0 per cent in the same period. SMRT's revenue rose to S$268.2 million from S$243.9 million in the same quarter last year. The increase in revenue is due to higher train and bus ridership, higher taxi rental revenue, as well as higher rental and advertising revenue. However, SMRT says during a phone conference that the higher operating expenses can be attributed to declining profit margins. SMRT's executive vice president and chief financial officer Ms Catherine Lee says the company has hedged diesel fuel and electric power to mitigate the effects of possible spikes in energy costs. She adds that "expenses arising from the recent MRT disruptions incurred this quarter were not significant," but acknowledged that the "profitability of the train operations will be impacted by the consequential costs arising from the recent MRT service disruptions" in the next 12 months. Looking ahead, Ms Lee says that SMRT's revenue is expected to rise further in the fourth quarter. But she warns that rising cost pressures, particularly energy costs and staff and related costs, will continue to thin out SMRT's profit margins. Earnings per share in the third quarter fell 14.0 per cent, down from 2.281 cents a year ago to 2.20 cents. - CNA/ch Edited February 6, 2012 by I-LOVE-CARS Link to post Share on other sites More sharing options...
Kangadrool Supersonic February 6, 2012 Share February 6, 2012 (edited) It's bonus time, so always give bad news to siam paying high bonus and good reasons to deflect pressures from trade unions. All companies do the same lah. The fact is, they are still making millions. The last Q, they made net profits $37mil. No loss lah. More than $10mil a month in net profits for a public transport service provider with no/little competition. Song boh? Edited February 6, 2012 by Kangadrool Link to post Share on other sites More sharing options...
Throttle2 Supersonic February 6, 2012 Share February 6, 2012 less earnings is not the same as loss. Link to post Share on other sites More sharing options...
Antlau 1st Gear February 6, 2012 Share February 6, 2012 it is no loss. it is still profits, just that compared to last year's, the profits is lesser. News reporting is always very misleading... Link to post Share on other sites More sharing options...
Freestylers09 5th Gear February 6, 2012 Share February 6, 2012 last 3 months holidays and many went oversea ma... Link to post Share on other sites More sharing options...
Old-driver 5th Gear February 6, 2012 Share February 6, 2012 This is old news la.... it was reported end of Jan. And well, its a reduced profit and not a loss Link to post Share on other sites More sharing options...
Joseph22 Turbocharged February 6, 2012 Share February 6, 2012 loss in revenue = projected net profit reduced. eg; Possibly year end bonus from 33 months become 31 months, A hio boh? profit of SMRT doesnt relate to Minister bonus. A hio Boh. Likely one to suffer will be the ground staff who been already poor going to see bonus cut. Link to post Share on other sites More sharing options...
Old-driver 5th Gear February 6, 2012 Share February 6, 2012 last 3 months holidays and many went oversea ma... REvenue increase Link to post Share on other sites More sharing options...
Joseph22 Turbocharged February 6, 2012 Share February 6, 2012 it is no loss. it is still profits, just that compared to last year's, the profits is lesser. News reporting is always very misleading... Sorry News reporting is accurate. TS title is misleading. Link to post Share on other sites More sharing options...
Darthrevan Supercharged February 6, 2012 Share February 6, 2012 reduced earnings/profits..not loss Link to post Share on other sites More sharing options...
Freestylers09 5th Gear February 6, 2012 Share February 6, 2012 ya hor 10percent Link to post Share on other sites More sharing options...
Elmo 4th Gear February 6, 2012 Share February 6, 2012 If after all the fiasco still report increased earning 有點說不過去. Got extra earnings also chuck it under impairment eh? Link to post Share on other sites More sharing options...
Old-driver 5th Gear February 6, 2012 Share February 6, 2012 This is only the beginning, wait till the full impact on the repairs come in. Then they start to increase fares to maintain profits? :angry: Link to post Share on other sites More sharing options...
Vid Hypersonic February 6, 2012 Share February 6, 2012 Maybe they paid out millions to get rid of Saw? ↡ Advertisement Link to post Share on other sites More sharing options...
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