SBS Transit has announced a 4.5% decrease in revenue for the first half of 2025, totalling $745.9 million, compared to $781.4 million in the same period last year. The decline is primarily attributed to a significant reduction in fuel and electricity costs, which fell by 29.3%, and repairs and maintenance costs, which decreased by 13.8%.
The company’s operating profit also saw a slight dip of 1.7%, reaching $34.1 million. Despite these challenges, SBS Transit managed to maintain its staff costs, which increased marginally by 0.5% to $381.2 million. Other operating costs, however, rose by 35.9%, contributing to the overall financial outcome.
Interest income experienced a notable decline of 30.9%, whilst profit before taxation dropped by 6% to $37.8 million. After accounting for tax expenses, the profit after taxation stood at $31.1 million, a 7.7% decrease from the previous year.
The company’s earnings per share also reflected this downturn, with basic earnings per share falling from 10.80 cents to 9.95 cents. The comprehensive income for the period, which includes fair value adjustments on cash flow hedges, amounted to $30.6 million, down from $34.4 million in the first half of 2024.
Looking ahead, SBS Transit will need to navigate these financial pressures whilst continuing to manage operational costs effectively. The company has not yet outlined specific strategies to address these challenges but remains focused on stabilising its financial performance in the coming months.
“`
