We feel it is the only prudent thing to do as we need to conserve cash," said Mr Lim. "Given the continued uncertainty in the global landscape. The transport giant also said that it will not be disbursing an interim dividend, the first time it has had to make such a decision. Group operating profit in the first half fell 97 per cent to S$6.6 million, said ComfortDelGro. In addition to Singapore, ComfortDelGro also operates in countries such as Australia, the United Kingdom, China, Ireland, Vietnam and Malaysia - all of which have been hit by COVID-19. In comparison, the group reported a S$146.3 million net profit for the first half of 2019. "If not for governmental reliefs, that loss would have been S$66.1 million," he said. "The first six months of 2020 have been nothing short of catastrophic," said ComfortDelGro chairman Lim Jit Poh. Group revenue came in at S$1.53 billion between January and June this year, compared with S$1.93 billion in the same period last year. With governments around the world imposing lockdowns and other restrictions to stem the spead of the outbreak, demand for taxi and public transport plunged, contributing to a 20.8 per cent fall in first-half revenue, said ComfortDelGro in a stock exchange filing. SINGAPORE: Transport giant ComfortDelGro posted a net loss of S$6 million in the first half of the year amid "massive" destruction brought on by the COVID-19 outbreak.
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