SIA Engineering Q1 net profit up 2.7% to S$41.6m on lower expenses.
SIA Engineering Group on Friday posted a 2.7 per cent improvement in first-quarter net profit to S$41.6 million from S$40.5 million a year ago owing to higher operating profit as a result of lower expenses.
Revenue for the three months to June was flat at S$258.1 million, up 0.2 per cent from S$257.7 million a year ago. Revenue from the airframe and line maintenance segment was S$2.3 million higher but this was partially offset by a S$1.9 million decrease in revenue from the engine and component segment, said the company in its results announcement.
Operating profit rose 74 per cent to nearly S$18 million on the back of a nearly 3 per cent lower expenditure due to a reduction in material costs. Earnings per share for the quarter stood at 3.72 Singapore cents from 3.62 Singapore cents a year ago.
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