Higher Q2 net profit for SATS boosted by lower expenditure
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Nisha Ramchandani
SATS chalked up a net profit of S$59.7 million in the second quarter, up 26.8 per cent from a year ago, even as revenue dropped 4.4 per cent to S$422.7 million.
The bottom line was helped by lower expenditure, which fell from S$399.7 million to S$363.5 million.
Earnings per share came to 5.4 Singapore cents, up from 4.2 cents a year ago.
The board has declared an interim dividend of 5 Singapore cents per share.
For the half year, net profit rose to S$109.3 million, up from S$90.4 million. Revenue was lower for the six months at S$839.6 million, down from S$877.4 million.
SATS said: "The operating environment for SATS continues to be challenging with slower regional economic growth, competitive pressures in aviation and increasing manpower costs."
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It added, however, that it remains confident in the long-term growth prospects for Asia and is adopting new technologies to boost productivity.
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