SIA Engineering's net profit crashed 36.5% to $41.4m in Q4

Due to lower airframe and component overhaul revenue.

SIA Engineering reported that its net profit declined 36.5% year-on-year to $41.4m in the fourth quarter, on back of an 11.3% decline in airframe and component overhaul revenue.

Share of profits of associated and joint venture companies decreased by 41% to $21.3m, mainly due to the weaker contributions from the engine repair and overhaul centres.

The group's full-year net profit declined 31% to $183.3m, with basic earnings per share slipping 31.5% to 16.36 cents.

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