Towards Financial Freedom
SIA Engg Q1 profit slips 1.6%
SIA Engg Q1 profit slips 1.6%. SIA Engineering reported a 1.6% decline in net profit for its fiscal first quarter, and the aircraft maintenance group cautioned that conditions ahead remain challenging. The company's net profit attributable to shareholders for Q1 ended June 30 slipped by 1.6% y-o-y to SGD69m, or 6.22 cents per share. Revenue fell by 3.7% to SGD289.4m. Net profit margin, however, improved slightly to 23.8% from 23.3% in the year-ago period. Associated and JV companies reported positive numbers, with 14% growth during the quarter to contribute SGD45.6m of pre-tax profits. No dividends were declared. Shares of SIA Engineering closed at SGD5.16 yesterday before the results were announced, up by 3 cents. (Business Times)
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