, 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.

Follow the link for more news on

Join Singapore Business Review community
Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!

Exclusives

Is HDB resale a good investment?
OrangeTee’s Dallas Hassan and Huttons Asia Real Estate Groups’ Lee Sze Teck answer frequently-asked questions on HDB.
Spoof proof: How the new SMS Sender ID Registry prevents phishing
Phishing remains a huge problem in Singapore, with reported incidents jumping from 16 to 5,020 within four years.