ComfortDelGro Corporation reported a profit after tax and minority interests of S$85.1 million for the half year ended Jun 30, 2026, down 19.7 per cent year-on-year, as margin gains in its overseas bus operations were outweighed by continued weakness in the point-to-point segment.
Group revenue rose 5.7 per cent to S$2.56 billion, buoyed by contractual indexation, renewed bus contracts in London and new awards in Victoria, Australia. The board declared an unchanged interim dividend of 3.91 Singapore cents a share, implying an annualised yield of about 5.8 per cent; payout dates were not disclosed.
Public Transport remained the main growth engine, contributing S$1.72 billion, or 67 per cent of group turnover, up from S$1.57 billion a year earlier. Segment operating profit firmed 4.2 per cent to S$79.7 million, helped by better margins on renewed London bus contracts. In contrast, Taxi & Private Hire operating profit more than halved to S$35.5 million amid intense competition in Singapore and Australia and softer premium corporate demand in the United Kingdom. Group operating profit fell 17.3 per cent to S$142.6 million, while Ebitda slipped 6.6 per cent to S$340.9 million.
Management attributed the point-to-point shortfall to ride-hailing rivals and muted business travel linked to geopolitical tensions in the Middle East. The Inspection & Testing division saw revenue moderate as on-board unit installations approached completion, while Other Private Transport in the UK/EU is expected to benefit from the summer travel peak and contributions from newly acquired P&J Ellis from the second half.
Looking ahead, ComfortDelGro will prioritise growth in contracted public-transport earnings by bidding for UK bus franchises in Liverpool and West Yorkshire and, with partner RATP Dev, awaits the outcome of its tender for the Copenhagen metro. In Singapore, rail revenue should rise on sustained ridership and last December’s fare adjustment, although the Tampines bus package transfer in July will trim bus receipts. In point-to-point, the group is shifting towards higher-yield premium and enterprise mobility, scaling private-hire fleets in Singapore, expanding business-to-business clientele in Australia, and positioning for recovery in UK corporate travel. It is also targeting a 10 per cent autonomous fleet share by 2030 following pilot deployments of driverless shuttles in Singapore and robotaxi services in China.
Group chief executive Cheng Siak Kian said the focus remains on expanding the base of long-term, contracted revenues while repositioning the taxi and private-hire unit towards premium and platform-enabled services. Chairman Mark Greaves added that disciplined capital allocation and a strong balance sheet give the company leeway to invest for growth even as it monitors currency and interest-rate volatility amid geopolitical uncertainties.