However, revenue tumbled 10.4% y-o-y to $229.3 million in the fourth quarter, from $256 million a year ago. This led full-year revenue to fall 2.6% y-o-y to $994.1 million from $1.02 billion. Much of the revenue decline was the result of lower MRO activity.
SINGAPORE (May 15): SIA Engineering’s 4Q and FY2020 results ended March 31 may have suffered minimal impact from the novel coronavirus (Covid-19) pandemic. But, the worst has yet to come for the provider of maintenance, repair and overhaul (MRO) services to more than 80 international carriers and aerospace equipment manufacturers.
During the quarter, SIA Engineering reported y-o-y earnings growth of 5.9% to $52.2 million from $49.3 million. This brought full-year earnings up 20.4% y-o-y to $193.8 million from $160.9 million. The strong bottom line was driven by an improved operating profit due to its transformation effort, the company says. This was enhanced by higher contributions from its engine and component segment, airframe and line maintenance segment, and associated and joint venture (JV) companies.
