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SIA Engineering's 2Q earnings rise 7.3% to $38.1 mil

Samantha Chiew
Samantha Chiew11/3/2017 05:34 PM GMT+08  • 2 min read
SIA Engineering's 2Q earnings rise 7.3% to $38.1 mil
SINGAPORE (Nov 3): SIA Engineering (SIAEC) announced that 2Q earnings rose 7.3% to $38.1 million from a year ago.
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SINGAPORE (Nov 3): SIA Engineering (SIAEC) announced that 2Q earnings rose 7.3% to $38.1 million from a year ago.

Revenue for the quarter was $274.7 million, an increase of $9.9 million or 3.7% as the growth in airframe and component overhaul and line maintenance revenue was partially offset by the decrease in fleet management revenue.

Expenditure at $255.2 million rose by $14.9 million or 6.2%, mainly due to higher staff costs, an exchange loss of $1.0 million against an exchange gain of $3.8 million in the corresponding quarter last year, and a provision for impairment of trade debtors of $1.6 million compared to a writeback of provision of $0.6 million in the same quarter last year. The resulting operating profit of $19.5 million was $5.0 million or 20.4% lower.

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