SMRT increasing headcount to cope with expansion

SMRT Corporation Chief Executive Desmond Kuek said that the group will look to bolster its staff numbers to deal with the extended network and a bigger fleet of trains, reported The Straits Times. "We will have to hire more to meet some of these requirements," he said a day after the transport firm unveiled its first quarter results.

SMRT posted a 10 percent fall in net profit to $20.1 million for the three months to 30^th June, down from the $22.4 million in the same period a year ago, although the turnover rose by 7.8 percent to $320.3 million.

The lower earnings were due largely to drooping profit from operations, especially its core rail business, as well as higher expenses aimed at supporting the ageing rail system and meeting tightened regulatory standards.

Staff costs accounted for the biggest hike of $10 million. SMRT said during the briefing that its headcount grew by 250 during the quarter. Year-on-year, it was higher by about 500.