food solutions

SATS posts 9% fall in 2Q earnings to $66 mil; declares 6-cent dividend

SINGAPORE (Nov 8): SATS Ltd, the provider of gateway and food solutions, has announced 2Q19 earnings of $65.7 million, down 9% from $72.2 million a year ago in the absence of a one-off gain on disposal of assets held for sale, as well as lower contributions from associates/joint ventures (JVs).

Notwithstanding the one-off gain of $7 million in 2Q18 – which was related to the deconsolidation of SHK and restructuring of Jilin Zhong Xin Cheng Food and SG IPF – underlying profit would have grown 0.8% y-o-y, says SATS.

SATS an attractive 'buy' at price levels below $5.15, says OCBC

SINGAPORE (June 14): OCBC Investment Research is upgrading its call on SATS Limited to “buy” from “hold” with an unchanged fair value of $5.50.

The upgrade comes on the belief that the counter now looks attractive at its Wednesday closing price of $5.06 – and will continue to remain so as long as it remains below the share price of $5.15, especially given the group’s expanding presence in Asia.

Steady fundamentals keep SATS's long-term outlook above ground

SINGAPORE (May 31): UOB Kay Hian, DBS Vickers Securities and Maybank Kim Eng are maintaining their “buy” calls on SATS post the gateway services and food solutions provider’s release of its 4Q18 results, which declined from a year ago due to lower associate and joint venture (JV) profits as a result of a one-off accounting treatment, according to the management.

Strong fundamentals keep SATS grounded in robust long-term outlook

SINGAPORE (May 22): UOB Kay Hian is keeping SATS at “hold” with a higher target price of $5.05 from $4.60 previously after the airline gateway services and food solutions provider reported $67 million in earnings for the fourth quarter ended March 31.

(See also: SATS reports 31% rise in 4Q earnings to $67 mil)

How SATS profited from Hanjin's loss in 3Q

SINGAPORE (Feb 10): Maybank Kim Eng is maintaining its “sell” call on SATS with an unchanged price target of $3.76, despite noting a “good quarter” where the gateway and food solutions provider’s core PATMI  came in 14% higher than the research house’s estimate.

(See also: SATS reports 7.4% rise in 3Q earnings to $65.1 mil)

Time to play the waiting game on SATS

SINGAPORE (Aug 30): OCBC Investment Research is keeping its “hold” call on SATS and raising its fair value to $4.70 from $4.20 previously, based on the group’s current lofty valuations.   

(See SATS kept at ‘hold’ by OCBC with $4.20 fair value estimate)

SATS wins tender to build and operate Saudi cargo terminal

SINGAPORE (Aug 22): Ground handling and inflight catering service provider SATS has been awarded a tender to build and operate a cargo terminal within Saudi Arabia’s new cargo village in Dammam, which is in the vicinity of King Fahd International Airport (KFIA).

(See Portfolio: We are adding SATS to our high-dividend stocks)

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