SATS Q4 profit dips to S$50.7m

Singapore

GROUNDHANDLER SATS Ltd's fiscal fourth-quarter net profit slipped 1.7 per cent year-on-year to S$50.7 million.

For three months ended March 31, group revenue dipped 1.8 per cent to S$417.6 million. Revenue from its food solutions segment declined 7.4 per cent to S$232.3 million, largely due to the transfer of the food distribution business to joint venture company SATS BRF (SBRF) Food in June last year as well as the weaker Japanese yen.