SIA Engineering : Q1 Earnings Takeaways

Net profit attributable to equity owners plunged 81.8 percent.

• By Aastha Agnihotri
  July 26, 2017 13:56 +08

• Net profit attributable to equity owners plunged 81.8 percent to S$36.2 million for the three months ended June 30, 2017

• The profit in the same quarter last year was higher due to gains from the divestment of 10 percent stake in Hong Kong Aero Engine Services to Rolls-Royce Overseas Holdings and Hong Kong Aircraft Engineering

• Revenue up 0.4 percent year-on-year to S$272.8 million

• Operating environment for the maintenance, repair and overhaul industry remains challenging: company statement

• SIA Engineering specialises in aircraft maintenance, repair and overhaul services in the Asia-Pacific and is part of the Singapore Airlines Group

• Shares in the company fell 2.8 percent to S$3.76 on the Singapore Exchange