Published:
SIA Engineering's profit rose to $54.8m in 2017
This is despite a decline of 0.5% in revenue.
SIA Engineering reported that its profit rose by 4.2% YoY, from $52.6m in the third quarter of FY2017-2018 to $54.8m in FY2017-2018.
Share of profits of associated and joint venture companies increased $9.2m.
Further, revenue decreased by 0.5% YoY, from $272.3m to $271m, which is due to the decline in fleet management revenue.
Expenditure increased by 2.3% YoY to $252.8m, whilst resulting operating profit was down by 27.8% YoY to $18.2m.
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