SMRT POSTS S$29.6M PATMI[1] FOR SECOND QUARTER 06
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Group revenue in 2Q FY2006 increased 5.6 per cent or S$9.7 million to S$182.1 million due to growth in revenue from all businesses, except buses.
Operating profit rose 260.8 per cent to S$37.6 million. Excluding the change in the estimated useful life for selected bus models, severance payment in 2Q FY2006, the write-back of retirement benefits provision and impairment loss on goodwill in 2Q FY2005, operating profit for 2Q FY2006 would have been S$35.8 million, an increase of 17.8 per cent.
PATMI for 2Q FY2006 declined by 50.8 per cent. Excluding the one-off items mentioned above as well as the gain on disposal of an investment and the write-back of deferred and current tax provision in 2Q FY2005, PATMI for 2Q FY2006 improved 14.7 per cent over 2Q FY2005.
SMRT's President and CEO Saw Phaik Hwa remarked: "SMRT was able to sustain its profitability in a higher operating cost environment, particularly fuel costs. The fare increase partly mitigated the fuel cost increase. SMRT's profitability continued to improve due to the growth of our non-fare businesses."
The Group declared an interim gross dividend of 1.5 cents per share less 20.0 per cent tax equivalent to a net dividend of S$18.1 million.
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Wow...operating profit from buses increase by 45% compared to Q2 2005 even though revenue remained the same. Thanks to cost cutting?
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Simi cost cutting? It is just to counter the higher fuel prices
Their bus ridership fell by 2%.
Anyway, if compare year on year, profit plunged by 52.8%... If w/o taken the last yr's writeback into consideration, profit would have remained flat.
SMRT expects Q3 to be worst than Q2 -
For buses, I dun even think there was cost cutting
What they did? Same as SBS, deploy lesser buses. Of course SBS now deploys non aircon buses to those fully aircon services.
Profit increse by 45%, still little, because Q1 profit plunged by 60% -
So in short, you are saying that SMRT is a lousy company?
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Already, everyone is saying SMRT growth is limitedOriginally posted by shade343:So in short, you are saying that SMRT is a lousy company?
No overseas expansion, how much more profits can you get from SG? -
It was reported in the papers that SMRT and a few GLCs are going for overseas investment.Originally posted by sbst275:Already, everyone is saying SMRT growth is limited
No overseas expansion, how much more profits can you get from SG? -
You think they would end up have overseas venture?Originally posted by shade343:It was reported in the papers that SMRT and a few GLCs are going for overseas investment.
Those GLC operate in a hardline manner -
Well, investing overseas is a step in the right direction for SMRT. Besides, growth in SMRT will now mainly come from their retail operations. This is good news. MRT stations have ALOT of unutilised spaces. This unutilised space represents a hidden potential for the company.Originally posted by sbst275:You think they would end up have overseas venture?
Those GLC operate in a hardline manner -
Come onOriginally posted by shade343:Well, investing overseas is a step in the right direction for SMRT. Besides, growth in SMRT will now mainly come from their retail operations. This is good news. MRT stations have ALOT of unutilised spaces. This unutilised space represents a hidden potential for the company.
You really insist retail space good to do? How many train stations can you upgrade? 100, 200?
Anyway, retail space, rent too high ppl also dun want, times are bad, rent increase ppl also dun want
Newton now no more shopes -
The shop at Newton has been there for around 7 years already. Unfortunately, the shop cater mainly to the ACS students who go there and buy cards and candy. Now that a few schools has move away and relocated to another area, its hardly suprising that the shop close down or relocated.Originally posted by sbst275:Come on
You really insist retail space good to do? How many train stations can you upgrade? 100, 200?
Anyway, retail space, rent too high ppl also dun want, times are bad, rent increase ppl also dun want
Newton now no more shopes
IMO, Newton MRT station is not really a place to set up shops. Other MRT stations such as Tampines, Novena and Dhoby Gaut can leverage on the popularity of nearby shopping centres. This stations could command a higher rental income if the potential space are utilised properly. -
Now, if such retail space can remain empty, I dun see what potential it has. I believe they moved out because of rentalOriginally posted by shade343:The shop at Newton has been there for around 7 years already. Unfortunately, the shop cater mainly to the ACS students who go there and buy cards and candy. Now that a few schools has move away and relocated to another area, its hardly suprising that the shop close down or relocated.
IMO, Newton MRT station is not really a place to set up shops. Other MRT stations such as Tampines, Novena and Dhoby Gaut can leverage on the popularity of nearby shopping centres. This stations could command a higher rental income if the potential space are utilised properly.
Newton not a good place? See the crowd on weekend and weekday, weekend is much better than that Raffles Place -
In the case of newton, so what if the net crowd movement is higher compared to that of raffles place? There is not enough space in Newton to attract a large pool and mix of tenants as compared to raffles place. Raffles place has space for 20 plus tenants. Newton probably only have enough space for less than 3?Originally posted by sbst275:Now, if such retail space can remain empty, I dun see what potential it has. I believe they moved out because of rental
Newton not a good place? See the crowd on weekend and weekday, weekend is much better than that Raffles Place
The challenge for SMRT is to find a solution that can enable them to convert unutilised space into income generating space. Therein lies the potential of the company. -
The point is, any space, I can get rental. Simple logic, how much rental, can be at $2500 also can... Already I make $$ alreadyOriginally posted by shade343:In the case of newton, so what if the net crowd movement is higher compared to that of raffles place? There is not enough space in Newton to attract a large pool and mix of tenants as compared to raffles place. Raffles place has space for 20 plus tenants. Newton probably only have enough space for less than 3?
The challenge for SMRT is to find a solution that can enable them to convert unutilised space into income generating space. Therein lies the potential of the company.
Newton can have 1
Potential of company? I tell you lah, by 2007, SMRT would face stagnent growth... Already now they are resorting to restate 2004's result -
In the 1st place, how SMRT is runned, is not a good counter already
They are just whole day using SG as market base...
Wheras ComfortDelGro is expanding, into Australia and Shenyang recently... -
Any space can be rented? I dont get you. You mean you would rent a toilet if its priced at $1 per square feet?Originally posted by sbst275:The point is, any space, I can get rental. Simple logic, how much rental, can be at $2500 also can... Already I make $$ already
Newton can have 1
Potential of company? I tell you lah, by 2007, SMRT would face stagnent growth... Already now they are resorting to restate 2004's result
Of course if you want a higher return form your space, you need to employ an amount of space planning. -
Oh pls, toilet is non profit itemOriginally posted by shade343:Any space can be rented? I dont get you. You mean you would rent a toilet if its priced at $1 per square feet?
Of course if you want a higher return form your space, you need to employ an amount of space planning.
From the way I see how SMRT made Raffles Exchange, they maximised land use
Higher form of return? Again, shade, look bigger. Whole day you say retail space very good, when all the stations have the retail space, what potential does SMRT have? Think -
Take a look at the map below:Originally posted by sbst275:Oh pls, toilet is non profit item
From the way I see how SMRT made Raffles Exchange, they maximised land use
Higher form of return? Again, shade, look bigger. Whole day you say retail space very good, when all the stations have the retail space, what potential does SMRT have? Think
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What's the pt of showing me this wrong map?Originally posted by shade343:Take a look at the map below:
If you wanna tell me abt the CCL, I tell you, that you have to wait for another 5 yrs, and again as NEL, it would be losing $$ due to start ups -
Well, but that is still growth. So who says there is no growth?Originally posted by sbst275:What's the pt of showing me this wrong map?
If you wanna tell me abt the CCL, I tell you, that you have to wait for another 5 yrs, and again as NEL, it would be losing $$ due to start ups -
Growth?Originally posted by shade343:Well, but that is still growth. So who says there is no growth?
How much? Losing $$ still growth? We are talking abt profits
Anyway, bet that 2 yrs (By 2007) and 2010, there would be 3 yrs SMRT faces stagnent growth and bet 2010 and 2013, profits would be dragged by CCL -
You are assuming that CCL is unprofitable. Kindly state why.Originally posted by sbst275:Growth?
How much? Losing $$ still growth? We are talking abt profits
Anyway, bet that 2 yrs (By 2007) and 2010, there would be 3 yrs SMRT faces stagnent growth and bet 2010 and 2013, profits would be dragged by CCL -
Why are you thinking it would be earning $$?Originally posted by shade343:You are assuming that CCL is unprofitable. Kindly state why.
Do you know that CCL only has 3 carriages vs 6 carriages for current MRT?
And, look at where the line goes, it hardly goes along any New Town except Bishan