SBS Transit lifts ridership, expands network as Q1 revenue climbs
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SBS Transit Ltd reported a 4.8% increase in Q1 revenue to S$391.8 million, driven by higher ridership and bus service fees. Average daily passengers rose 2-3% year-on-year. The company expanded its network with new light rail vehicles and bus services, while operating profit increased to S$17.8 million. Despite a slight dip in PATMI to S$15.6 million due to lower interest income, total assets and equity grew, reflecting stable financial performance amid rising costs. SBS Transit focuses on enhancing mass transit solutions in Singapore.
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