SIA Engineering reports net profit of $32.5 million for H1 of FY2022-23

SIA Engineering Group (SIA) has posted revenue of $362.2 million for the first half of the financial year ending September 30, 2022, an improvement of $98.7 million (+37.5%) year-on-year, largely driven by the increase in flight activities, and all segments recorded higher revenue. SIA’s expenditure increased at a higher rate of 38.0% from $102.8 million to $373.0 million year-on-year mainly due to the stepping down of government wage support. Excluding wage support, the expenditure increase was 21.2%, with manpower costs and material costs rising in tandem with higher business activities. SIA incurred a higher operating loss of $10.8 million as