SATS Q3 profit down 8.7% on weaker yen

FOOD solutions and gateway services group SATS Ltd posted an 8.7 per cent year-on-year decline in its Q3 net profit to $42.9 million, as a weakening yen crimped revenue from its food solutions division.

Revenue for the three months ended Dec 31, 2013, dipped 1.1 per cent to $465.5 million. At the food solutions segment, it fell 3.9 per cent to $291.1 million, even as sales at its gateway services business grew 4.3 per cent to $173.3 million.

Revenue from Singapore, which accounts for 78 per cent of the group's total, grew 2.5 per cent year on year to $362.9 million. Japan's contribution fell 18 per cent to $67.6 million. Aviation made up 78 per cent of total group revenue.