Hot stock: SIA shares fall on Thursday after Q1 earnings miss
The airline posts net profit of S$451.7 million in Q1, a 38.5 per cent drop from S$734 million in the year-ago period
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SHARES of Singapore Airlines (SIA) fell in early trading on Thursday (Aug 1) morning, after the group posted a 38.5 per cent drop in net profit for its first quarter ended June.
As at 9.05 am, the counter lost S$0.84 or 12.1 per cent to S$6.13 from Wednesday’s closing price of S$6.97. This was S$0.46 or 7 per cent below Wednesday’s adjusted price of S$6.59, factoring in a dividend of S$0.38 per share. The company began trading ex-dividend on Thursday morning.
By the mid-day trading break, SIA was one of the most actively traded counters by volume. Its shares were down S$0.71 or 10.2 per cent at S$6.26, with 20.3 million shares changing hands.
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