While all operating segments recorded higher revenue, group expenditure also increased albeit at a lower rate of 37.8% to $513.9 million. This is mainly due to higher manpower costs, materials costs, equipment running costs and debt impairment provision for a customer that has suspended operations. Basic earnings per share for its 1HFY2024 stood at 5.28 cents.
SIA Engineering Company has reported earnings of $59.3 million in its 1HFY2024 ended September, up 82.5% y-o-y.
Operating performance improved by $10.9 million y-o-y to a small operating profit of $0.1 million. Against last year’s low base, the company’s revenue grew 41.9% y-o-y to $514 million, largely driven by increase in flight activities.
