, Singapore
459 views
Photo from SIA Engineering

SIA Engineering net profit dips to $12.8m in Q3FY2223

The figure is $20.4m lower year-on-year.

Despite improvement in flight activities, SIA Engineering’s net profit still dipped in the third quarter of FY2022-23.

In a bourse filing, SIA Engineering declared a net profit of $12.8m for the quarter which is $20.4m lower year-on-year (YoY)

Excluding last year’s wage support and one-time tax write-back, the company’s net profit would have improved by $19.8m YoY.

In the same quarter, SIA Engineering recorded a higher operating loss of $12.5m due to the rise in expenditure.

The company’s expenditure in Q3FY2223 rose 35.5% due to an increase in manpower costs.

“Manpower costs increased largely due to increase in headcount, cessation of manpower cost mitigation measures and increments,” the company stated.


 

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!