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October 28, 2006
SMRT CEO: Lower Cost, So Higher Fares!
makapa said:
SMRT Corporation reported a 13 per cent year-on-year rise in net profit to $31.5 million for the second quarter ended September 2006, helped by increased ridership on MRT lines and rental of retail space at refurbished stations. ...Helped by lower staff and electricity costs, operating profit for this segment rose 24.5 per cent to $29.3 million.
Recommended by at82: "I thought the justifications SMRT gave for fare hikes in Oct is that its profits are falling and costs are raising?"
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