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SATS posts 3.3% drop in Q2 profit

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SATS Ltd posted a 3.3 per cent decrease in net profit to S$47.1 million for the second quarter ended Sept 30, 2014, after the market closed on Thursday.

SATS Ltd posted a 3.3 per cent decrease in net profit to S$47.1 million for the second quarter ended Sept 30, 2014, after the market closed on Thursday.

Revenue for the same period stood at S$442.2 million, inching down 2.2 per cent from the same period a year ago.

For the first half of the year, SATS's revenue was one per cent lower at S$877.4 million. During then, profit slipped 4.7 per cent to S$90.4 million.

Earnings per share for the quarter and six-month period stood at 4.2 Singapore cents and 8.1 Singapore cents, respectively, against 4.3 Singapore cents and 8.5 Singapore cents during the corresponding periods in the previous year.

SATS declared an interim cash dividend of five Singapore cents a share, the same as last year's.

The group's counter closed unchanged at S$3.03 on Thursday, before the release of its results.