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SIA Engineering’s half-year earnings nearly triple to $234 mil, lifted by one-off gains

Gwyneth Yeo
Gwyneth Yeo11/1/2016 06:56 PM GMT+08  • 2 min read
SIA Engineering’s half-year earnings nearly triple to $234 mil, lifted by one-off gains
SINGAPORE (Nov 1): SIA Engineering Company (SIAEC) saw a near tripling of earnings to $233.9 million in 1H17 from $85.8 million a year ago (1H16), lifted by one-off gains.
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SINGAPORE (Nov 1): SIA Engineering Company (SIAEC) saw a near tripling of earnings to $233.9 million in 1H17 from $85.8 million a year ago (1H16), lifted by one-off gains.

SIAEC recorded a $141.6 million gain from the divestment of its 10% stake in Hong Kong Aero Engine Services to Rolls-Royce Overseas Holdings and Hong Kong Aircraft Engineering Company, and a special dividend of $36.4 million from HAESL for the divestment of its 20% stake in Singapore Aero Engine Services to Rolls-Royce Singapore.

Revenue for the half year fell 1.3% to $536.4 million on lower fleet management revenue, which was partially mitigated by higher line maintenance revenue.

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