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AnalysisSingapore

SIA Engineering Posts 6.7% Rise in 3Q Earnings to $49.4 million

SIA Engineering Group posted earnings of 949.4 million for 3Q, an increase of 6.7% from a year ago.

This was mainly due to an increase in share of profits, boosted by one-time gains, from its associated and joint venture companies. For the three months to December, revenue grew 3.7% to $257.2 million lifted by higher fleet management and line maintenance revenue.

Expenditure increased at a lower rate of 2.2% to $246.2 million, with increases in material and staff costs mitigated by decreases in other expenses. As a result, operating profit increased 19.3% to $29 million. Share of profits from associated and joint venture companies also rose 31.2% to $33.2 million, mainly contributed by one-time restructuring gains, including profit from the sale of facilities.

The contributions from the engine repair and overhaul centres increased 25.6% to $19.6million. Shares in SLA Engineering ended 1.45% lower at $3.41 on Monday.

This article first appeared in The Edge Singapore Market Report.

Didn’t make it to the AGM? Find out the 3 Things I Learned from SIA Engineering’s AGM 2015.

The Edge Markets

The Edge Markets helps its readers to make better business and investment decisions by empowering them with the latest financial news, data and analytics. The Edge Markets is part of The Edge Media Group.

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