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Jul
30

SMRT REPORTS LOWER NET PROFIT OF $34.8M FOR 1QFY12 (27 Jul 11)

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  • Revenue: +7.8% (1Q12)
  • Net Profit: -8.9% (1Q12)
  • Press Release: Net profit was lower due mainly to higher energy costs and staff and related costs
  • Outlook: In the quarter ahead and next 12 months, Train and Bus operations are expected to face increasing cost pressures particularly in staff and related costs and energy costs.
  • Staff and related costs will be higher due mainly to higher CPF rates and increased headcount. 
  • The higher headcount is contributed mainly by increased train runs and the ramp-up for the remaining Circle Line stages. 
  • Energy costs are expected to remain high with higher diesel and electricity prices. 
  • The profitability of Train and Bus operations will be impacted by the higher operating expenses. 
  • This will be partially mitigated by higher ridership and revenue contribution from the opening of all Circle Line stages from the second half of the year.
  • Stronger contribution from the rental business is expected to increase revenue by $7 million in FY2012. 
  • The Group has applied for the annual fare adjustment which is subject to approval by the Public Transport Council.
  • Notwithstanding this, the profitability of the Group in FY2012 may not be maintained at previous year’s level in view of the rising costs and especially if energy prices remain at the current high levels.
FINANCIAL RECORDS

Revenue (SGD '000)

FY 1Q 2Q 3Q 4Q Total
2012 258,453
2011 239,704 249,821 248,450 251,871 989,846
2010 228,974 237,927 237,812 233,540 938,253
2009 221,554 233,773 225,251 225,041 905,619
2008 197,955 201,574 205,875 217,589 822,993
2007 186,156 193,817 200,616 190,296 770,885
2006 181,968 187,579 187,347 180,043 736,478
2005 170,568 178,237 176,306 174,731 699,842
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Earnings (SGD '000)

FY 1Q 2Q 3Q 4Q Total
2012 34,828
2011 38,243 45,801 42,998 34,049 161,091
2010 48,203 52,804 39,220 22,658 162,885
2009 40,307 42,563 41,201 38,660 162,731
2008 37,940 39,536 38,291 34,172 149,939
2007 27,327 31,515 40,414 36,151 135,407
2006 25,593 27,888 29,963 19,992 103,436
2005 20,953 60,209 23,818 20,764 83,883
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Dividends

FY Interim Final Special (SGD)
2012
2011 0.0175 0.0675 NA
2010 0.0175 0.0675 NA
2009 0.0175 0.0600 NA
2008 0.0175 0.0600 NA
2007 0.0150 0.0575 NA
2006 0.0150 0.0550 NA
2005 0.0150 0.0500 NA
2004 0.0130 0.0320 NA
2003 0.0130 0.0178 NA
2002 0.0130 0.0150 NA
2001 0.0150 0.0165 0.0150
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Bonus / Rights / Stock Split

Date Type Details
NA
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Share Data (SGD)

NAV = $0.548
EPS = $0.023 (3M FY12)
No of Shares = 1,518,950,796



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