, Singapore

SATS H2 earnings recover to $7.2m

The company had a net loss of $2m for the same period last year.

SATS Ltd. reported a profit attributable to owners of the company of $7.2m in the second half of the financial year 2021-2022.

This is a recovery from the $2m loss recorded for the same period last year.

In a bourse disclosure, the company noted that travel recovered in the fourth quarter, despite China's strict lockdown. This drove revenue to grow to $607.3m from $529.5m.

Revenue from food solutions increased by 10.8% to $330.6m, whilst revenue from gateway services grew by 19.5% to $275.2m.

SATS is investing in production automation for its Food Hub and upgrading its SATS Integrated Operations Command with artificial intelligence and machine learning.

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