SIA Group net profit soar to $2.16b

A $3.12b rise from the $962m net loss last year.

SGX-listed Singapore Airlines Group (SIA Group) recorded a net profit of $2.16b for the fiscal year 2022/23, a $3.12b recovery from its net loss worth $962m last year.

This is reportedly its highest ever net profit in its 76-year history, the airlines said in an SGX filing.

The group's better operating performance and lower net finance charges drove the improved net profit. This was partially offset by tax expense against credit last year.

Operating profit for the full fiscal year is at $2.69b, reversing last year's $609.7m loss.

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Total revenue grew 133.4% to $17.78b from $7.61b.

SIA has proposed a final dividend of 28 cents per share.