SIA Engineering’s revenue soars 13% to $303m in 3Q11

Things are looking good for the group as revenue from its fleet management programme surged in 2011.

According to a financial statement, SIAEC Group posted a profit attributable to owners of the parent of $63.5 million for the quarter ended 31 December 2011, which was $3.2 million or 5.3% higher than the corresponding quarter last year. Operating profit for the quarter was $28.4 million, a decrease of $6.1 million or 17.7%. Share of profits from associated and joint venture companies, which accounted for 56.3% of the Group’s pre-tax profits, increased by $6.8 million or 20.1% to $40.7 million.

Revenue of $303.4 million was $33.9 million or 12.6% higher than the same quarter last year, primarily attributable to higher fleet management programme revenue and an increase in airframe and component overhaul work.

Expenditure increased by $40.0 million or 17.0% to $275.0 million, mainly from higher subcontract and staff costs to support the increase in workload.

Basic earnings per share rose by 4.7% to 5.79 cents.

Year-to-date (April – December 2011)
The Group recorded a profit attributable to owners of the parent of $202.8 million, $5.2 million or 2.6% higher than the corresponding period last year. Share of profits from associated and joint venture companies increased by $7.5 million or 6.8% to $118.4 million, representing a contribution of 52.0% to the Group’s pre-tax profits. Performance in the first nine months included a write-back of tax provision of $3.1 million arising from a change in the tax rules during the period.

Operating profit at $97.1 million was $8.0 million or 7.6% lower compared to the same period last year. Revenue rose by $18.5 million or 2.2% to $853.4 million, mainly from an increase in fleet management programme revenue. Expenditure at $756.3 million, was $26.5 million or 3.6% higher, primarily due to higher subcontract and staff costs during the period.

Basic earnings per share was 1.9% higher at 18.52 cents.

If you've been wondering whether SBR could work for your company — yes, probably.

A lot of the companies we partner with started as readers. They'd been following our coverage for a while, saw their own customers and competitors in it, and eventually asked the obvious question: could we do something with you? The answer is usually yes. The shape of it depends on what you're trying to do.

The options are broader than most people assume — thought leadership articles, sponsored content, industry summits across Southeast Asia, regional awards programmes, podcasts, and media placements in print and digital. Some partners use one channel; most use a mix. We figure out the right combination by starting with your brief, not with our rate card.

So if the question has been on your mind, here's the easy way to ask it.

We'll tell you honestly whether we can help, and how. It's a better use of everyone's time.

Book a meeting

| Or download the media kit (PDF)

240,000 senior readers quarterly in print Top 1,700 Singapore companies reached

7 markets across Southeast Asia