SIA Engineering Group Posts Profit of SG$33.1 Million for 3rd Quarter FY2018-19

SIA Engineering Group has posted a profit attributable to owners of the parent of SG$33.1 million for the third quarter of FY2018-19, a decrease of SG$22.2 million or 40.1%. SG$20.9 million of the decrease was mainly due to one-time events from the associated and joint venture companies.

Operating profit of SG$15.9 million was SG$2.9 million or 15.4% lower year-on-year. Revenue of SG$255.9 million was lower by $15.1 million or 5.6%, mainly from lower airframe and fleet management revenue, partially mitigated by higher line maintenance revenue. Expenditure at SG$240.0 million decreased at a lower rate of 4.8%, mainly due to lower material costs in line with the lower workload.

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