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SIA Engineering's Q3 profit rises 6.5%

SIA Engineering-29414647 - 26_09_2013 - sia.jpg
Shares of SIA Engineering Co fell to their lowest since January 2010 on news that JPMorgan is selling 38.8 million shares in the aircraft maintenance, repair and overhaul (MRO) services provider for up to S$128 million.

SIA Engineering Company on Friday reported a 6.5 per cent year-on-year bump in net profit to S$52.6 million for Q3 FY16/17, while revenue decreased 1.1 per cent to S$272.3 million.

The bottom line was boosted by a S$2.3 million gain on the partial disposal of an associated company.

Earnings per share for the quarter ended Dec 31, 2016, came in at 4.69 Singapore cents, up from 4.40 Singapore cents a year ago.

"The operating environment of the aerospace industry remains challenging in the face of persisting global economic uncertainties," said SIA Engineering. "As part of ongoing efforts to remain competitive, we will continue to enhance operating efficiencies and manage costs, including investing in new technologies and advancing innovation."

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