Joint venture bus operator ComfortDelGro Cabcharge (CDC) has booked an impressive result for the full year to 2009. Net profit after
Joint venture bus operator ComfortDelGro Cabcharge (CDC) has booked an impressive result for the full year to 2009.
Net profit after tax increased by 9.9 percent on last year’s result, to $7.8 million.
CDC Chairman Red Kermode attributes the strong result to the acquisition of the Kefford Group, which was finalised in late February 2009.
“With the completion of this acquisition and continuing delivery of the additional buses in Sydney, the size of the CDC fleet has almost doubled since the acquisition of the Westbus Group from 642 to 1255 buses,” Kermode says.
Profit is expected to continue to grow in line with network and fleet growth.
CDC is increasing its kilometre base by integrating its networks and absorbing expanded services on the M2.
The NSW Government Bus Growth Program in Sydney will see the company receive 124 more new buses.
Kermode says deliveries are on schedule, with most buses expected to be delivered between now and the end of December 2009.
The CDC fleet will grow from 1255 to 1379 buses when the deliveries are received.
CDC operates services as part of the New South Wales metropolitan bus system under the Westbus, Hillsbus and Hunter Valley brands.