Sats sinks into the red in Q4 with S$6.3m loss

Singapore

THE novel coronavirus pandemic has hit the profitability of Sats, causing the ground handler and food solutions provider to sink into the red for the three months to end-March.

The listed company recorded a net loss of S$6.3 million for the fourth quarter of FY 2020, against earnings of S$49.9 million a year ago, according to the financial results it released on Thursday.

That was the quarter Sats started to see its business blindsided by the pandemic as the virus gripped the world. According to…

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