Sats' Q2 profit up 16.2% on one-off gains, contributions

Singapore

DESPITE a dip in revenue, groundhandler Sats posted a 16.2 per cent increase in net profit to S$72.2 million for the second quarter ended Sept 30, thanks to higher contributions from share of results of associates and joint ventures, as well as gains on disposal of assets.

During the quarter, the group recorded one-off gains of S$5.2 million from the disposal of a 51 per cent stake in Sats HK (SHK), and S$1.8 million from the completion of the restructuring of Jilin Zhong Xin Cheng Food Co and SGIPF.