For 3QFY2020 ended December, the group booked earnings of $59.3 million, some 13.9% lower than $68.9 million in the year before. However, SATS defied analysts’ expectations with a 17.6% growth in revenue to $545.6 million spearheaded by growth across both its food solutions and gateway services segments.
SINGAPORE (Feb 17): SATS is one the companies that has to brace itself for the impact of a rapidly escalating Covid-19 situation.
In its earnings call on Feb 13, SATS says it is taking “proactive steps” to mitigate both the impact and risks of the epidemic, which has caused a significant reduction in air traffic in China. Apart from China, the decline in regional travel is also expected to affect SATS’s overseas arms in Japan, as well as associates throughout Southeast Asia and the Middle East.
