SIAEC Group posted a profit of $69.0m, a decrease of $1.1m or 1.6% compared to the same quarter last year. Revenue decreased $11.1m or 3.7%, primarily due to lower material and fleet management revenue. Expenditure fell by $4.4m or 1.7%, mainly from decreases in subcontract and material costs. The resulting operating profit for the quarter was $27.7m, a decrease of 19.5%. Associated and joint venture companies turned in a strong 14.0% growth in contribution for the quarter. Share of profits before tax at $45.6m accounted for 58.0% of the Group’s pre-tax profits.
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[email protected]
Mailing Address
AviTrader Publications Corp.
Suite 305, South Tower
5811 Cooney Road
Richmond, BC V6X 3M1
Canada