Lower costs help lift SATS Q3 profit by 25%

Singapore

GROUND-handler and food solutions firm SATS' third quarter net profit jumped 25.2 per cent year on year to S$53.7 million, thanks to lower costs.

Revenue dipped 3.2 per cent to S$450.7 million as higher revenue from gateway services was offset by lower revenue from food solutions. The latter fell 7.2 per cent to S$270.2 million on the back of poorer performance from Japan-based catering unit TFK, the weaker Japanese yen and loss of contributions from Urangan Fisheries which was divested in July last year. Gateway services revenue, on the other hand, rose 3.5 per cent to S$179.4 million.