SIA Engineering Q2 net profit up 5.8% to S$71m

SIA Engineering's second-quarter net profit rose 5.8 per cent year-on-year to S$71 million on the back of higher group revenue.

Group revenue rose 3.3 per cent to S$293.9 million from the same quarter last year, primarily attributable to an increase in airframe and component overhaul work.

SIA Engineering also saw higher profit contributions from its associated and joint venture companies in the second quarter.

These grew 25 per cent to S$48.5 million and account for 60 per cent of the group's pre-tax profits during the quarter.

Basic earnings per share for the current quarter rose 4.9 per cent year-on-year to 6.39 Singapore cents.

Looking ahead, SIA Engineering said it expects stable performance despite the global economic uncertainties.

The company has also declared an interim dividend of seven cents per share, unchanged from last year.

SOURCE