SATS shares fall 6% after Q1 results announcement

SATS shares fell 6 per cent in active trading on Friday after the airport and food services provider reported a 14.4 per cent drop in its first quarter net profit on Thursday.

The counter lost 32 Singapore cents to close at S$5 on a volume of 14.05 million shares.

Revenue for the first quarter was up 5.8 per cent from a year ago, but growth in gateway services and food solutions was partially offset by lower cargo volume, which fell 1.6 per cent due to "global trade uncertainties", SATS said.