SBS Transit’s making money... S$18.6 million in fact

ALL content used in this not-for-profit blog remain the property of their respective owners.
http://www.todayonline.com/business/sbs-transits-annual-profit-halves-s186-million

Transport operator SBS Transit on Thursday reported annual net profit despite higher staff and maintenance costs.

For the year ended Dec 31, SBS booked a net profit of S$18.6 million, while revenue increased 5.5 per cent to S$792.3 million.

SBS said revenue from its bus operations for 2012 rose 6.2 per cent to S$600.9 million due to the increase in average daily ridership of 3.1 per cent and an increase in other operating income. At the same time, rising staff costs, higher depreciation, increased repairs and maintenance costs and higher fuel costs contribute to a S$14.7 million deficit

Revenue from rail operations rose by 3.1 per cent to S$138.6 million as more people took the trains. Average daily ridership for the North-East Line and the two Light Rail Transit systems went up by 6 per cent and 17.8 per cent, respectively, from 2011.

It booked an operating profit of S$4.9 million in this segment, despite higher staff costs from the start-up of the Downtown Line, increased repairs and maintenance costs, higher electricity costs and other operating expenses.

Revenue from its advertisement business increased by 1.6 per cent to S$36.8 million while revenue from its rental business rose by 11.2 per cent to S$16 million, due mainly to higher income from shop space and roadshows.