ComfortDelGro H1 profit falls 19.7% as group focuses on long-term transformation
Revenue rises 5.7% to S$2.6 billion from S$2.4 billion, supported by public transport segment
ComfortDelGro's net profit fell 19.7% year on year to S$85.1 million for the six months ending June 30, 2026, despite revenue increasing by 5.7% to S$2.6 billion. The public transport segment, which accounts for 55.9% of the group's operating profit, saw an increase in operating profit of 4% year on year to S$79.7 million. However, the taxi and private hire business, which contributed 24.9% to the group's overall operating profit, experienced a more than 40% drop in operating profit to S$35.5 million.
This decline was attributed to cost-of-living pressures and disruptions to international travel due to the Middle East conflict. ComfortDelGro's CEO, Cheng Siak Kian, acknowledged the need to transform the taxi and private hire business and highlighted the company's focus on premium travellers and hospital transfers in Europe, the UK, and Australia. The company has already made acquisitions, such as Addison Lee and CMAC, to support its strategy.
Written by urgent.news from The Business Times - Singapore's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
