SIA Engineering announced that it has reversed back into profitability in 1HFY2022 ended September with earnings of $25.0 million, compared to a loss of $19.0 million in 1HFY2021. Included in last year’s poorer performance was an impairment provision of $35.0 million on the group’s Base Maintenance unit’s asset.
This came on the back of an 18.2% y-o-y increase in revenue to $263.5 million from $223.0 million a year ago, largely driven by higher flight activities.
