SATS Q2 net profit falls 7.6%

Singapore

AIRPORT and food services provider SATS on Tuesday announced that net profit for the second quarter ended Sept 30 fell 7.6 per cent on lower cargo volumes and investments in growth initiatives.

Net profit was S$60.7 million compared with S$65.7 million a year ago, while revenue improved 9.8 per cent to S$497.4 million. Earnings per share was 5.4 Singapore cents, down from 5.9 cents in the second quarter of the previous financial year.