SIA Engineering Co posts 7.3% rise in Q2 bottom line
SIA Engineering Company's (SIAEC) net profit rose 7.3 per cent year on year to S$38.1 million for the second quarter ended June 30.
Revenue edged up 3.7 per cent to S$274.7 million in line with growth in airframe and component overhaul and line maintenance revenue. Earnings per share clocked 3.4 Singapore cents, up from 3.17 cents a year ago.
The bottom line was bolstered by higher share of profits from associated and joint venture companies, which totalled S$22.9 million, or 33.1 per cent more year on year.
For H1 17/18, net profit slid 68.2 per cent to S$74.3 million as H1 16/17 included a gain from the divestment of the group's 10 per cent stake in Hong Kong Aero Engine Services. Stripping out the impact of the divestment, profit for the six-month period of the current financial year would have been 1.1 per cent higher.
Revenue for the six-month period rose about 2.1 per cent to S$547.5 million.
An interim dividend of four cents per share has been declared, which is on par with the dividend paid out a year ago.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Companies & Markets
Hong Kong regulator to probe PwC auditing role over Evergrande
US: S&P, Dow open flat as Middle East jitters ease, Netflix weighs on Nasdaq
DBS puts 46 retail units, HDB shops on market for S$210 million
China to facilitate Hong Kong IPOs and expand Stock Connect
Global equity funds see surge in outflows as rate cut hopes fade
Gazelle Ventures makes cash offer for No Signboard shares at S$0.0021 apiece