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SIAEC posts higher net profit of $26.9m in 3Q23/24
The 3Q23/24 record is an improvement of $14.1m year-on-year.
SIA Engineering Company (SIAEC) recorded a net profit of $26.9m for the 3Q23/24 period, translating to a $14.1m increase from 3Q22/23.
In the same period, SIAEC recorded a 40.2% YoY higher revenue of $291.7m and higher expenditure of $295.1m.
Since revenue growth was higher than the recorded rise in expenditure, SIAEC recorded a lower operating loss of $3.4m in 3Q23/24.
“If we exclude the impact of foreign exchange loss, the Group would have achieved an operating profit of $0.5m in 3Q23/24,” SIAEC said.
Despite higher net profit, SIAEC’s equity attributable to owners of the parent dropped 0.3% YoY to $1.66b.
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