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SIA Engineering full year profit up nearly 50%
SIA Engineering’s full financial year net profit was up 46.2% year-on-year (YoY) to $97.1 million, with revenues climbing 37.5% to $1.09bn. The growing demand for maintenance, repair and overhaul (MRO) services bolstered the strong results. It noted its expenses rose 32.6% to $576.3 million in the full year due to the higher manpower costs and material usage from the growing demand. Its operating profit swung from a loss of $26.3 million in the previous financial year to a profit of $2.3 million. “It was the first year of profit at the operating level since the onset of the pandemic,” the
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