SATS reports 21.1% hike in Q4 profit, lifted in part by lower costs
But revenue drops 2.2% as higher gateway services sales offset by weaker food solutions sales
Singapore
BOOSTED by lower expenses and higher contributions from associates and joint ventures, ground-handler SATS reported a 21.1 per cent year-on-year jump in net profit to S$51.6 million for 4QFY15 ended March 31.
This was despite a 2.2 per cent slide in revenue to S$425.1 million as higher revenue from its gateway services business was offset by lower revenue from its food solutions business.
During the quarter, revenue from food solutions declined 5.8 per cent to S$250.9 million due to weaker performance from Japan-based subsidiary TFK Corp and the divestment of an Australian subsi…
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