The Group recorded revenue of $125.3 million for the quarter, a y-o-y increase of $6.8 million, or 5.7%, largely driven by higher flight activities.
With continued support from government grants, SIA Engineering net profit increased 35.5% y-o-y to $14.5 million for 1QFY2021/22 ended June.
Although support from the Job Support Scheme (JSS) was lower than the same period last year, it “substantially cushioned” the impact of low-flight activities, says SIA Engineering Group in a July 23 business update. Without this support, the Group would have recorded a loss of $24.1 million.
