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Smrt sees 75.5% increase in q2 profits but complains that fare business is “challengi

makapaaa

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[h=1]SMRT SEES 75.5% INCREASE IN Q2 PROFITS BUT COMPLAINS THAT FARE BUSINESS IS “CHALLENGING”[/h]
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31 Oct 2014 - 7:46pm





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SMRT released data today on their business performance and explained that they have seen a 75.5% increase in profits in Q2 compared to the same time last year.
Their total profits after tax for Q2 were $25.3 million.

Total operating profit also saw a 66.5% increase to become $33.3 million part of this was due to the increased profits that they received from their fare business. Total fare-related profits came in at $5.5 million.

Meanwhile, SMRT increased fares in April this year claiming that they were struggling with rising costs and thus needed to raise fares.

It would seem that they are not really “struggling” at all as they can enjoy $5.5 million in fare profits and a 75.5% rise in overall profits.

Instead, it is commuters who must pay extra per trip to continue allowing SMRT to enjoy massive profits.

Train operations for the quarter saw a $6.6 million increase in profits thanks to higher fares and lower electricity costs. However, SMRT lost a bit of money in the LRT business, losing $700,000 this quarter.

For SMRT’s bus business, they also saw losses of $1.4 million but this is much better than the $7.4 million they lost in the same time last year. The improvement was also thanks to increased fares and also productivity gains.




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SMRT said in a statement that despite the good profit figures, "the fare business environment will continue to be challenging owing to heightened operational demands on service, reliability and capacity."

They also explained that they will continue looking for more ways to build up its non-fare businesses including international and out of network opportunities.

The board has declared tan interim dividend of 1.5 cents per ordinary share.

When SMRT had submitted its request to the public transport council last year to raise its fares, it had cited increasing costs, including electricity costs as a need to increase fares.
However, in the report for Q2, they said that they were able to increase profits thanks to reduced electricity costs. Why has the story suddenly changed now that they were approved to raise their fares?

Is it really the case that their fare business is “challenging” or is this simply an excuse to continue pushing for higher fares?
 

SgGoneWrong

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Asset
Re: Smrt sees 75.5% increase in q2 profits but complains that fare business is “chall

Challenging my foot, sure make money business with monopoly of a basic need of millions of sardines.
 

johnny333

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Re: Smrt sees 75.5% increase in q2 profits but complains that fare business is “chall

They should spend some of that $$$ to hire competent people:rolleyes:
 

JohnTan

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Generous Asset
Re: Smrt sees 75.5% increase in q2 profits but complains that fare business is “chall

I am so glad I am an SMRT shareholder.
 

blissquek

Alfrescian
Loyal
Re: Smrt sees 75.5% increase in q2 profits but complains that fare business is “chall

Challenging my foot, sure make money business with monopoly of a basic need of millions of sardines.

Sickening MIW ...doing the foreplay again to exact more money from the public with another round of fare increase.


Mark my word, they are going to raise fare again by making this hint.
 

jw5

Moderator
Moderator
Loyal
Re: Smrt sees 75.5% increase in q2 profits but complains that fare business is “chall

You must always look at what they are comparing against. :wink:
 

johnny333

Alfrescian (Inf)
Asset
Re: Smrt sees 75.5% increase in q2 profits but complains that fare business is “chall

Sickening MIW ...doing the foreplay again to exact more money from the public with another round of fare increase.


Mark my word, they are going to raise fare again by making this hint.



The only way to stop the price hikes in Spore is to boot out the PAP. I'm really surprised that the 60% tolerate all these hikes.:mad:
 

chootchiew

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Asset
Re: Smrt sees 75.5% increase in q2 profits but complains that fare business is “chall

Now the smrt train driver , cleaner and marshal can ask loudly - Where are my fucking pay increments and bonus. song !
 

SgGoneWrong

Alfrescian (Inf)
Asset
Re: Smrt sees 75.5% increase in q2 profits but complains that fare business is “chall

The only way to stop the price hikes in Spore is to boot out the PAP. I'm really surprised that the 60% tolerate all these hikes.:mad:

I'm really surprised that a boy could die from food poisoning from eating at a food court and yet it's considered a misadventure with no punishment for the vendor. What's a few price hikes compared to life loss?
 

Devil Within

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Re: Smrt sees 75.5% increase in q2 profits but complains that fare business is “chall

SMRT top management find it challenging to give themselves 1000 times bonus with only 75% raise in profits.
 

Lordshiva

Alfrescian
Loyal
Re: Smrt sees 75.5% increase in q2 profits but complains that fare business is “chall

2013-05-08 18.50.32.jpg



No wonder they were in such a fucking hurry to throw away their money to that cb raw deal over the london taxi company owned by those carlyle (read as familee) bastards la............



Why the cpib dont dare to investigate har???



Or they are learning maximum restraint from their brothersx in the home team???
 

johnny333

Alfrescian (Inf)
Asset
Re: Smrt sees 75.5% increase in q2 profits but complains that fare business is “chall

I'm really surprised that a boy could die from food poisoning from eating at a food court and yet it's considered a misadventure with no punishment for the vendor. What's a few price hikes compared to life loss?


Have to ask why so many Sporeans are dying of cancer when the "authorities" have so much control on what food stuffs are permitted into Spore:confused:

I suspect the worse & worry about the lack of monitoring. The fact that LHL is allowing rice from Fukushima may just be the tip of the icebergs as to why Sporeans are having so many serious health problems:eek:
 

SgGoneWrong

Alfrescian (Inf)
Asset
Re: Smrt sees 75.5% increase in q2 profits but complains that fare business is “chall

Have to ask why so many Sporeans are dying of cancer when the "authorities" have so much control on what food stuffs are permitted into Spore:confused:

I suspect the worse & worry about the lack of monitoring. The fact that LHL is allowing rice from Fukushima may just be the tip of the icebergs as to why Sporeans are having so many serious health problems:eek:

Your leeder won't give a shit if sinkies die. Only benefit them. Medical hub earns from treatment, funeral parlour earns, sell harvested organs earn. Then the dead sinkie's place is replaced by another ft and the cycle goes on.
 

borom

Alfrescian (Inf)
Asset
Re: Smrt sees 75.5% increase in q2 profits but complains that fare business is “chall

Where else can a company as inefficient as this with constant breakdown and poor service makes money?

A govt owned company making profits at the expense of its own people .

When it has to compete openly like other govt owned transport companies eg SIA and NOL -see what happens?
 
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