SIA Engineering's Q3 profit falls 23.5%

Singapore

HIT by lower share of profits from associated and joint venture companies, SIA Engineering Co (SIAEC) reported a net profit of S$46.3 million for the third quarter ended Dec 31, 2014, down 23.5 per cent from S$60.5 million for the corresponding quarter a year earlier.

Revenue fell from S$283.8 million to S$265.3 million, dragged down by lower revenue from airframe and component overhaul due to fewer heavy checks. However, this was offset by higher fleet management and line maintenance revenue.