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26-04-2011, 03:34 PM
(This post was last modified: 26-04-2011, 04:41 PM by iff.)
Ben, Thanks a lot for sharing the past 5 years rental revenue figure,
I referred to their Q3 results media release,
and the figure suggest Rental actually is very important business and source of profits,
The detailed breakdown suggest Train profit is 30mil, LRT and Bus is at loss (1.7mil), Taxi break even, Rental Profit 14.4mil and Ads profit 4.8mil,
The rental profit already grow into a significant source of profit,
We might need to change the way to analyze this company's growth aspects, If the rental and Ads area do much better in the future (where these 2 have more room to grow) the company's profitability model may change too.
(Vested)
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Higher operating profit boosted SMRT Corp's net profit by 50.3 per cent to $34.0 million for the fourth quarter ended March 31, 2011, although this was partially offset by higher income tax expenses.
Q4 revenue rose 8.6 per cent to $244.5 million compared with the same period a year ago.
Earnings per share for Q4 rose to 2.2 cents from 1.5 cents in the previous corresponding quarter.
For the full year, the operator of Singapore's biggest rail network saw net profit dip 1.1 per cent to $161.1 million on higher staff and energy costs, as well as other operating expenses. Full year revenue for the group climbed 8.3 per cent to $969.7 million mainly on higher train and bus ridership, contribution from the Circle Line, higher
taxi rental revenue and higher rental and advertising revenue. These were however partially offset by lower average fare for MRT and lower revenue from Palm Jumeirah.
Earnings per share for the full year slipped to 10.6 cents from 10.7 cents a year ago.
A final dividend of 6.75 cents per share has been proposed, bringing the total dividend for FY 2011 to 8.5 cents per share, or equivalent to a dividend of $129.1 million.
Source: Business Times Breaking News .
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Rental business continue to grow at double digit rate in FY2011. Rental revenue/EBIT/EBIT% as follows:
$73.6million/$57million/77.4%
Average occupancy rate was 98.3%.
For FY2012, more space will be available for rental and incremental rental revenue of $7million is expected. This should contribute another $5million to EBIT.
Circle line stage 4 and 5 expected to commence operation in Oct 2011. This should boost rental revenue further in coming years.
EBIT from rental, advertising and engineering contributed $88million to SMRT's overall EBIT, which is 45% of total EBIT. In times to come, I believe the split could be 50/50.
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In Hong kong, the train company has the right to use the land around the station to build skyscraper. In sg, is there any chance that SMRT can build office buildings or big shopping malls?
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18-06-2011, 08:49 PM
(This post was last modified: 18-06-2011, 08:50 PM by corydorus.)
That's thai girl deserves every help she can get for the rest of her life in medical care and life she will miss.
Singaporeans have been living in such a "harsh" environment for so long that they forgot their safety rights from the Operator but focus only whether their stock will get hit or not.
We should have Laws that will triple the amount as 3.4m will not be enough to set a good example to rest of the companies who total disregard for human safety. The fence should have been build long ago. If i read correctly they were able to pull in the build after the mishap.
Cory
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as quoted from asiaone forum.
If the girl wins the case then it'll set a precedent for others to follow and to make quick money in terms of millions. It won't be a surprise if a foreign worker would rather lose his legs and get millions in return.
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