http://ride.asiaone.com/news/general/story/staff-costs-erode-sbs-transit-gains
Continued ridership growth allowed transport operator SBS Transit to post a 7 per cent rise in revenue to $204.8 million for the first quarter ended March 31.
Despite staff costs rising by 16.7 per cent (or $13.4 million) to $93.7 million as the group prepares to begin operating the new Downtown Line from the fourth quarter, they still scored a net profit of $2.8 million.
This increase just about offset the $13.5 million rise in revenue from more bus and train rides in the first three months.
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