ComfortDelgro: Too Early to Bottom-Fish as Ride-Hailing Apps Continue to Incentivize and Innovate

Grab's Funding & Navigation Guide From Didi Means ComfortDelgro's Taxi Segment Still Pressured

ComfortDelgro's Drivers' Update and SBS' Failure to Win New Train Line Signal Share Price Pressures

ComfortDelGro FY16 Results: An Era Where Competition Hits a Higher Gear

Weekend Fun Read: Better to Drive Taxi or Uber/Grab Car?

Asia Ex-J Consumer/ Transport analyst

Valerie Law, CFA

Equity Bottom-Up

<p><a href="https://www.smartkarma.com/entities/497" target="_blank" data-smartkarma-citation="entities:497:1">Comfortdelgro Corp Ltd (CD SP)</a> reported 1Q17 results last Friday. Overall operating profit dropped by 8.1% to SGD 100.5m while PAT rose 6.7% YoY due to an SGD 10.5m increase in Net Income from Investments - this was due to a special dividend from Cabcharge Australia, which was tax exempt. Stripping that out, PAT was lower 5.2% YoY.<br><br>Generally, results were within my expectations as I highlighted my concerns in an earlier note: <a href="https://www.smartkarma.com/insights/comfortdelgro-fy16-results-an-era-where-competition-hits-a-higher-gear" target="_blank" data-smartkarma-citation="insights:8719">ComfortDelGro FY16 Results: An Era Where Competition Hits a Higher Gear</a>…</p>

Comfortdelgro Corp Ltd (CD SP) reported 1Q17 results last Friday. Overall operating profit dropped by 8.1% to SGD 100.5m while PAT rose 6.7% YoY due to an SGD 10.5m increase in Net Income from Investments - this was due to a special dividend from Cabcharge Australia, which was tax exempt. Stripping that out, PAT was lower 5.2% YoY.  Generally, results were within my expectations as I highlighted my concerns in an earlier note: ComfortDelGro FY16 Results: An Era Where Competition Hits a Higher Gear…

2017年第1四半期決算：公共交通サービスは改善しているが、タクシー部門は依然として圧力にさらされている