Keffords acquisition boosts CDC results

By: Jason Whittaker


Westbus parent company Cabcharge-ComfortDelGro Corporation (CDC) has booked an impressive second quarter result for the year. CDC’s turnover increased 42 percent

Westbus parent company Cabcharge-ComfortDelGro Corporation (CDC) has booked an impressive second quarter result for the year.

CDC’s turnover increased 42 percent on last year’s result to $62.5 million and earnings before interest and tax increased by $3.8 million (54 percent) to $10.8 million, the company announced today (Friday, August 14).

Cabcharge Executive Director Reg Kermode attributes the results to contributions from the Keffords acquisition in Victoria and growth in New South Wales as a result of the New South Wales’ Government Growth Program.

The results are expected to be more pronounced in the second half of the year, Kermode says.

CDC is the joint venture company that operates Westbus. Cabcharge holds 49 percent and ComfortDelGro Corporation Limited (Singapore) holds 51 percent.

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