SIAEC Net Profit Up 6.7% In Q3 FY16

SIA Engineering Company (SIAEC) has reported a net profit of S$49.4m ($34.7m) for Q3 FY16, a year-on-year rise of 6.7 per cent.

SIA Engineering Company (SIAEC) has reported a net profit of S$49.4m ($34.7m) for Q3 FY16, a year-on-year rise of 6.7 per cent.

Revenues also rose 3.7 per cent to S$275.2m ($192.9m) in the three months ending December 31, 2015, which SIAEC attributed to the improved performance of its line maintenance and asset management divisions.

Revenues from its engine repair and overhaul centres also increased by 25.6 per cent to S$19.6m ($13.7m).

However, net profit for the first nine months of the financial year was hampered by lower airframe and component overhaul revenues, dropping by 4.7 per cent to S$135.2m ($94.7m).

In its future outlook, SIAEC said it expects operating conditions in the MRO industry to “remain challenging” and will “continue its efforts to control costs and strengthen efficiencies”.

 

TAGS: Asia Pacific
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