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SATS' profit for Q3 FY14/15 up 25% to S$53.7m

Wednesday, February 4, 2015 - 18:06

GROUNDHANDLER SATS' third quarter net profit jumped 25.2 per cent year on year to S$53.7 million, boosted in part by lower costs.

Revenue dipped 3.2 per cent to S$450.7 million as higher revenue from gateway services was offset by lower revenue from food solutions. Earnings per share for the quarter came to 4.8 Singapore cents, up from 3.8 cents.

Expenditure eased from S$423.5 million to S$399.6 million, which helped lift operating profit from S$42 million previously to S$51.1 million.

SATS said: "In the near term, our operating landscape remains challenging as a result of competitive pressures in the aviation sector and continued rise in manpower costs."

But it went on to add: "We have confidence in our strategy. Our focus on managing costs and improving productivity has begun to yield results. We will continue to invest in our state-of-the-art facilities, comprehensive suite of services and new technologies to drive economies of scale and enhance connectivity for our customers. We will also remain focused on growing new businesses and customer segments."

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