SATS' Q4 profit up 31.4% on higher sales, one-offs

SATS' net profit rose 31.4 per cent to S$66.6 million, or 6 Singapore cents per share, for the fiscal fourth quarter ended March 31, the ground services company announced on Friday before the market opened.

Excluding one-offs, underlying net profit was S$51.6 million, up 1.8 per cent year-on-year. Those one-offs included a S$15 million negative goodwill for Evergreen Sky Catering Corp.

SATS is declaring a final dividend of 11 Singapore cents per share, up from the year-ago payout of 10 Singapore cents per share.

For the full year, net profit grew 16.9 per cent to S$257.9 million.

Revenue rose 2 per cent to S$425.8 million during the quarter on better sales in both food and gateway services.

Looking ahead, SATS cautioned that uncertainties in global trade and intense competition could lower margins. But the company is looking to make further investments in capital and new businesses in additional locations in the coming year.