SIA Engg's Q4 profit dips to $65.2m

SIA Engineering Company (SIAEC) posted a 1.1 per cent dip in fourth-quarter net profit to $65.2 million on lower dividends from long-term investments and contributions from joint-venture firms.

Revenue for the quarter ended March 31, 2014, rose 9.7 per cent to $311.1 million, boosted mostly by airframe and component services. Operating profit was 10.7 per cent higher at $34.2 million.

Even so, the group's share of profits from joint-venture companies - net of tax - fell from $25.4 million to $22 million. At the same time, long-term investment dividends fell from $3.7 million to $2.2 million, levelling out pre-tax profit to $73.2 million - unchanged year-on-year.