SMRT's full-year profit rises by 20 percent to cross $100m again

The Straits Times reported that transport operator SMRT Corp posted a 20.1 percent rise in net earnings to $109.3 million for the year ended 31^st March.

The profit attributable to shareholders came on the back of a 6.2 percent rise in revenue to $1.37 billion, and a 5.4 percent increase in operating expenses to $1.24 billion.

Earnings per share for the 12 months stood at 7.17 cents while the margin for earnings before interest, taxes, depreciation and amortisation improved to 26.4 percent, from 25.4 previously.

SMRT Directors are declaring a final dividend of 2.5 cents per share, up from 1.75 last year. Group CEO Desmond Kuek said, "The group's overall earnings has been supported by better performance in our non-rail businesses, and we will continue to pursue sustainable growth in line with our core competencies as a multi-modal transportation group."