SIA Group reveals increase in net profit

Darren Wood
By Darren Wood November 12, 2019 11:15

SIA Group reveals increase in net profit

SIA Group has revealed it has achieved a net profit of SG$206 million in the first half of the financial year, up 5.1% from the SG$10 million experienced in the same period of last year.

The group’s revenue rose by 5.3% to SG$418 million primarily from strong growth in passenger flown revenue, partially offset by a reduction in cargo flown revenue.

However, the group experienced higher expenditure, up 5.8% to $431 million reflected on enlarged operations.

Accordingly, operating profit for the group stood at SG$413 million, down 3.1% to SG$13 million compared to the corresponding period last year. 

Passenger flown revenue for the group was up 8.2% to SG$514 million, lifted by 7.6% growth in traffic.

Load factor improved 1 point to 84.6%, a record for the first-half, as uplift outpaced the increase in capacity by 6.4%.

Darren Wood
By Darren Wood November 12, 2019 11:15