Lower expenditure helps SATS post stronger profit

Singapore

GROUNDHANDLER SATS has reported a net profit of S$60.6 million for the third quarter of the 2016 financial year, up 12.8 per cent from S$53.7 million a year ago, as a drop in expenditure gave the bottom line a boost.

This is despite revenue falling 2.2 per cent to S$441 million from S$450.7 million due to the transfer of its food distribution business to joint-venture company SATS BRF Food (SBRF) last June and the weakening of the Japanese yen.