Sats-WFS deal: Pro forma financials in circular show lower immediate boost to earnings, EPS
SINCE announcing plans to acquire Worldwide Flight Services more than three months ago, Sats has consistently said the “transformational” deal will make it more resilient and unlock significant growth potential.
But information provided by the in-flight caterer and ground handler about the immediate financial impact of the transaction has since been updated.
When Sats unveiled the S$1.8 billion acquisition of WFS on Sep 28 last year, it said in a statement that the deal would boost its earnings per share (EPS) for the financial year to Mar 31, 2022 by 78 per cent on a pro forma basis.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Opinion & Features
Shameless comebacks show we are in the age of chutzpah
It is time to put idle cash back into the market
Consider housing policy tweaks to boost Singapore’s birth rate
Gauging sentiment is crucial, and there are hard and easy ways to do it
Interests of OCBC and Great Eastern’s minority shareholders are fundamentally misaligned
The election-devaluation cycle