SMRT Corporation said earnings for the 1Q2013 ended June 30 increased 4.7% or $1.6 million to $36.5 million compared to $34.8 million a year ago (1Q2012).
Group revenue rose 8.8% to $275.2 million as both Fare and Non-Fare businesses recorded higher revenue of 8.9% and 8.2% respectively.
The train business led growth with a 11.2% or $15.1 million increase in revenue, accounting for 68.1% of the increase in group revenue, with higher ridership due to full opening of the Circle Line in January 2012.
Group operating profit rose 3.5% to $43.9 million with better performance from Circle Line, taxi, rental and advertising businesses, and a $8.0 million insurance compensation for a rail asset.
Profit was however impacted by the $2 million penalty imposed by LTA, Committee of Inquiry (COI) related legal and professional fees, and higher staff costs, repairs and maintenance, and depreciation in the train operations.
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