AhGong
2023-03-07
I am bullish on $COMFORTDELGRO CORPORATION LTD(C52.SI)$. CDG released its 2022 results and saw a strong recovery after enduring two years of headwinds.Revenue inched up 7.9% year on year to S$3.8 billion with operating profit jumping 35.1% year on year to S$270 million.Operating profit excluding government relief and one-off items such as impairments and asset disposals would have soared 54.1% year on year to S$214.1 million.Net profit increased by 40.7% year on year to S$173.1 million for the land transport giant.A final dividend of S$0.0176 was declared, and management has once again declared a special dividend of S$0.0246 to commemorate the group’s 20th anniversary of its listing on the SGX.The dividend bonanza means that the 2022 dividend totals S$0.0848, giving its shares a trailing dividend yield of 7.1%.
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