SATS posts 14.5% rise in Q1 earnings to S$49.6m

Singapore

GROUNDHANDLER and food solutions provider SATS reported a 14.5 per cent year-on-year rise in net profit to S$49.6 million for the first quarter ended June 30, boosted by lower expenses, higher contributions from associates/joint ventures as well as a net gain from the transfer of business to a joint venture.

This was despite revenue falling 4.2 per cent to S$416.9 million, resulting from an 8.2 per cent reduction in its food solutions revenue, which was partially offset by a 2 per cent increase in gateway services revenue.