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SIA Engineering Q4 net profit falls 12.3% to S$49.3m

SIA Engineering Company on Friday posted a net profit of S$49.3 million for the fourth quarter ended March 31, 12.3 per cent lower than a year ago.

This was partly due to a S$15 million one-off gain in the year-ago period on the divestment of Asian Compressor Technology Services Company Limited.

Revenue also shrank 7.4 per cent to S$256 millionĀ on lower fleet management activities. Earnings per share for the quarter was 4.4 Singapore cents, compared to 5.02 cents in the fourth quarter of the previous year.

For the full year, net profit was S$160.9 million, down 13.9 per cent from the previous year. Revenue stood at S$1.02 billion, 6.8 per cent lower than in FY17/18 mainly on the back of a decline in airframe and fleet management revenue.

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Earnings per share for the full year was 14.38 Singapore cents compared to 16.70 cents in FY17/18. Net asset value per share as at March 31 was 136.6 Singapore cents.

SIA Engineering has declared a final dividend of eight Singapore cents, down from nine cents a year ago. Together with an interim dividend of three cents paid earlier, the total dividend payout for FY18/19 will be 11 Singapore cents per share.

The dividend will be paid on Aug 8.

SIA Engineering closed at S$2.48 on Friday, down one cent or 0.4 per cent before the results were announced.