Justify fare hike

When SBS Transit Q2 profit down 56% to $6.39m, will this help to justify the impending fare hike in October?

Higher fuel and electricity costs put the brakes on SBS Transit's net profit for the second quarter ended June 30, 2008, causing it to fall 56.0 per cent to $6.39 million.


Fuel and electricity costs in Q2 had surged 73.7 per cent to $52.4 million compared to the previous corresponding quarter, pushing the bus and rail operator's total operating expenses up by 16.0 per cent to $173.6 million.

Earnings per share for the quarter fell to 2.07 cents in Q2 from 4.72 cents in the same quarter last year.