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SIA Engineering Co posts 7.3% rise in Q2 bottom line

SIA Engineering Company's (SIAEC) net profit rose 7.3 per cent year on year to S$38.1 million for the second quarter ended June 30.

Revenue edged up 3.7 per cent to S$274.7 million in line with growth in airframe and component overhaul and line maintenance revenue. Earnings per share clocked 3.4 Singapore cents, up from 3.17 cents a year ago.

The bottom line was bolstered by higher share of profits from associated and joint venture companies, which totalled S$22.9 million, or 33.1 per cent more year on year.

For H1 17/18, net profit slid 68.2 per cent to S$74.3 million as H1 16/17 included a gain from the divestment of the group's 10 per cent stake in Hong Kong Aero Engine Services. Stripping out the impact of the divestment, profit for the six-month period of the current financial year would have been 1.1 per cent higher.

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Revenue for the six-month period rose about 2.1 per cent to S$547.5 million.

An interim dividend of four cents per share has been declared, which is on par with the dividend paid out a year ago.