SIA Engineering Group post strong half year results

SIA Engineering Group has reported first half financial year 2023-24 ended 30 September 2023, operating performance up by $10.9 million year-on-year to a small operating profit of $0.1 million. Against last year’s low base, Group revenue grew 41.9% to $514.0 million, largely driven by the increase in flight activities. All operating segments recorded higher revenue, confirmed the company. Group expenditure also increased, but at a lower rate of 37.8% to $513.9 million. The increase in expenditure was mainly due to higher manpower costs, materials costs, equipment running costs and debt impairment provision for a customer that has suspended operations.   As