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Sats Q1 net loss widens to S$30 million on WFS integration costs

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Yong Jun Yuan
Yong Hui Ting

Yong Jun Yuan &

Yong Hui Ting

Published Tue, Aug 15, 2023 · 07:40 PM
    • Group revenue for the period expanded more than three times, soaring 219.2 per cent on the year to S$1.2 billion in Q1.
    • Group revenue for the period expanded more than three times, soaring 219.2 per cent on the year to S$1.2 billion in Q1. PHOTO: SATS

    FOOD solutions and gateway services group Sats sank deeper into the red as it reported a net loss of S$29.9 million in the first quarter ended June 2023.

    This compared to a net loss of S$22.5 million in the corresponding year-ago period.

    The group said in a bourse filing on Tuesday (Aug 15) that the higher losses were due to one-off costs related to the integration of Worldwide Flight Services (WFS) – an air cargo logistics business it finished acquiring in April this year.

    SATSFinancial results

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