The group also reports a half-year profit of S$134.7 million, reversing from the red
IN-FLIGHT caterer Sats on Thursday (Nov 7) announced a second-quarter profit of S$69.7 million, soaring 214 per cent from S$22.2 million in the corresponding year-ago period.
Revenue for the three months ended Sep 30 increased 14.1 per cent to S$1.5 billion, from S$1.3 billion year on year.
The group declared an interim dividend of S$0.015 per share, payable on Dec 6. It did not propose any dividends in the corresponding year-ago period.
The quarter’s on-year gains were due to business volume growth, rate increases and a three-month revenue catch-up recorded in Q2 FY2025 upon the finalisation of a contract renewal, said Sats.
For the first half of FY2025, the group returned to the black with a profit of S$134.7 million, compared to a loss of S$7.8 million a year ago.
This translates to an earnings per share of S$0.09 for the six months, compared to a loss per share of S$0.005 previously.
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H1 revenue was S$2.8 billion, up 14.8 per cent from S$2.5 billion year on year.
The improvement was attributed to the scale leverage derived from a higher business volume, as well as rate increases from customers.
The group expects the positive momentum to continue into the next quarter as demand for travel and cargo reaches its seasonal year-end peak.
Kerry Mok, Sats president and chief executive, said: “We are pleased with the progress of our integration and the sustained improvements in operating results. This quarter’s good performance is further proof that our strategy is delivering.”
Shares of Sats ended 0.7 per cent or S$0.03 lower at S$3.98 on Thursday, before the announcement.
