ComfortDelGro record revenue

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Announcing its audited results for the year ended December 31, 2013, Singapore-based ComfortDelGro said it achieved a record full-year revenue of $3.75bn (Singapore Dollars), an increase of 5.7% on the previous year. Overseas operations accounted for 40.5% of total group revenue.

Group operating profit increased by 3.4% to $426.3m, 48.9% of which was generated offshore. The overseas bus business accounted for 92.3% of group bus operating profit, with public scheduled bus operations in Singapore under SBS Transit incurring a $14.3m operating loss, the third consecutive year of losses.

Net profit attributable to shareholders increased by 5.7% to $263.2m. EBITDA increased by 3.9% to $763.7m.

At Group level, full-year revenue from the bus business increased by 8.8% to $1.86bn, boosted by maiden contributions from Metroline West in London.

The bus business in the United Kingdom, which clocked a 24.1% increase in revenue to $671.0m, continued to be the single largest contributor to Group overseas bus revenue in 2013. Contributing to the better performance was an increase in mileages operated and contract price adjustments and the maiden contribution from Metroline West, which was acquired in July 2013. From FirstGroup, revenue at Scottish Citylink, which operates inter-city coach services, registered a 6.1% increase to $85.7m due to new services added.

Revenue from the Irish Citylink inter-city coach business increased by 2.9% to $14.2m.