SATS Q3 revenue dips, net profit inches up

SATS on Tuesday reported a mild uptick in its third-quarter earnings to S$66.6 million, from S$65.1 million the year before.

Its revenue dipped 0.2 per cent year-on-year to S$439.8 million in the three months ended Dec 31, from S$440.9 million a year ago.

The ground-handler and in-flight catering service provider said the drop came about after the deconsolidation of SATS HK Limited, which was divested in July 2017. Excluding the impact of the deconsolidation, it said, the group's underlying revenue would have increased 2.4 per cent or S$10.3 million.

SATS' earnings per share was 5.9 Singapore cents, from 5.8 cents.

SATS said its performance remains "resilient" despite a challenging operating environment. It added that Changi Airport's growth in passenger and cargo traffic would present opportunities for SATS to strengthen its operations in Singapore with greater efficiency and innovative products and services.

SATS shares closed five cents down at S$5.25 on Tuesday.