SIA Engineering Group posts profit of SG$41.6 million for first quarter 2019-2020

For the first quarter of FY2019-20, SIAEC Group posted a revenue of SG$258.1 million, comparable year-on-year. Revenue from the airframe and line maintenance segment was SG$2.3 million higher. This was partially offset by a SG$1.9 million decrease in revenue from the engine and component segment. Expenditure at SG$240.4 million was lower by SG$7.1 million or 2.9%, mainly due to a reduction in material costs.

As a result, operating profit increased SG$7.5 million or 73.5% to SG$17.7 million. Share of profits of associated and joint venture companies was SG$26.0 million, SG$6.4 million or 19.8% lower year-on-year, with the engine and component segment turning in a profit of SG$26.7 million and the airframe and line maintenance segment incurring a loss of SG$0.7 million.

Contributions from the engine and component segment decreased SG$6.1 million, mainly due to higher expenses incurred by an engine centre as it gears up for new engine capabilities, while contributions from the airframe and line maintenance segment decreased by SG$0.3 million. Profit attributable to owners of the parent was SG$41.6 million for the quarter ended 30 June 2019, an increase of SG$1.1 million or 2.7%.


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