Singapore-listed transport operator SMRT says its fourth quarter net profit rose 13.1 percent to 38.7 million dollars.
This was on the back of a 4.1 percent increase in revenue to 216.9 million dollars for the 3 months ended March.
For the full year, SMRT posted an 8.5 percent rise in net earnings to 162.7 million dollars.
The company says increased train and bus ridership as well as growth from rental and advertising revenue contributed to the rise in earnings.
Looking ahead, SMRT says revenue from train and bus operations is expected to be lower in the current quarter due to the fare reductions that took effect this month.
But it expects to register higher rental revenue due to increased lettable space after it redeveloped various MRT stations.
However, it warns the outlook for its taxi business remains challenging
--938Live