ComfortDelGro H1 profit falls 19.7% as group focuses on long-term transformation

ComfortDelGro's net profit declined 19.7% year-on-year to S$85.1 million for the six months ending June 30, 2026, despite a 5.7% increase in revenue to S$2.6 billion, as the transport operator focused on long-term transformation. The group's public transport segment, which accounted for 55.9% of the group's operating profit, saw its operating profit rise 4% year-on-year to S$79.7 million.

However, the taxi and private hire business, which contributed 24.9% of the group's overall operating profit, experienced a more than 40% drop in operating profit to S$35.5 million due to cost-of-living pressures and disruptions caused by the Middle East conflict. ComfortDelGro's CEO, Cheng Siak Kian, acknowledged the need to improve the taxi and private hire business, focusing on premium travelers and hospital transfers in Europe, the UK, and Australia, as well as leveraging expertise and reputation as a pure-play transport operator.

The company's long-term strategy includes transforming its taxi and private hire business, expanding its autonomous vehicle fleet, and entering the Beijing or Shenzhen market later this year.