Dividends, absence of associate losses bolster SIA's Q2 bottom line
Net profit rises to S$213.6 million from S$90.9 million, but group cautious amid challenging operating environment
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Nisha Ramchandani
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Singapore
HIGHER dividends from long-term investments and an absence of share of losses from budget carrier Tiger Airways helped bolster the bottom line in the second quarter for Singapore Airlines (SIA).
SIA clocked a net profit of S$213.6 million, up from S$90.9 million a year ago, for the second quarter ended Sept 30, thanks to S$91.1 million in dividends from long-term investments, versus S$3 million a year ago. In addition, the reclassification of Tiger as its subsidiary saw the airline group recording S$0.9 million in share of profits of associated companies, compared to a hefty S$104 million loss in Q2 FY14/15.
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