SIA's net profit up 2.3% to $367.9m in FY15

On back of lower fuel costs.

Singapore Airlines (SIA) reported that its full-year net profit grew 2.3% to $367.9m in FY14, on back of a steep decline in fuel costs.

SIA's net fuel cost declined by $263m during the year, but hedging activities caused the group to book a $549m hedging loss this year compared to a hedging gain of $87m in the previous financial year.

For the fourth quarter, SIA's net profit surged 46.7% to $39.6m, driven by lower opex from lower fuel prices and improved passenger yields.

THe group declared a full-year dividend of 31.2 cents, higher than the 30.3 cents it paid out in the previous financial year.

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