Loss per share stood at 2.2 cents for the year, down from the earnings per share (EPS) of 1.7 cents on a diluted basis.
SATS (SGX:S58
) has reported a loss of $26.5 million for FY2023 ended March 31, compared to the earnings of $20.4 million in the preceding FY2022.
The loss was attributable to the one-off expenses of $44.9 million from the merger and acquisition (M&A) of Worldwide Flight Services (WFS). The acquisition of WFS was completed on April 3 where it became a subsidiary of SATS. WFS’s financial information will be consolidated into SATS’s financial results with effect from 1QFY2024.
