SATS' profits dipped 4.6% to $62.1m in Q3

The 2.6% growth in the gateway services segment offset the 2.5% decline in food solutions.

SATS Limited’s (SATS) core profit dived 4.6% YoY to $62.1m in Q3.

According to OCBC Investment Research, revenue was flat YoY at $439.8m as the 2.5% decline in Food Solutions was offset by the 2.6% growth in Gateway Services. This is despite the breaking down of SATS HK (SHK) in July 2017.

Q3 operating expenses also came in flat YoY at $374.1m as the impact of SHK's breaking down was offset by higher underlying operating expenses including higher fuel costs and lower grants.

The share of after-tax profits from associates and joint ventures (JV) rose 7.9% YoY to $13.7m driven by food solutions associates and JVs.

For 9M2018, revenue fell 0.2% YoY to $1.3b, but underlying revenue would have increased 1.3% if not for the deconsolidation of SHK.

Operating expenses rose 0.2% to $1.12b on higher licence fees, depreciation and amortization charges, and other costs.

The share of after-tax profits from associates and JVs jumped 29.7% YoY to $47.2m. Consequently, core profits grew 1% YoY to $184.6m.

Reaching the people who run Asia's businesses is harder than it used to be.

Inboxes are crowded. Attention is short. The executives you most want to reach — the founders, CFOs, and operators who actually move budgets — are the hardest to find through the usual channels. If you're building a company, a category, or a reputation, you already know this.

We've spent twenty years building the room they read. Singapore Business Review is where senior decision makers in Singapore and across Southeast Asia come for business coverage they can't get elsewhere — in print, online, and in person at the summits and roundtables we host across seven markets.

If you have something these readers should know about — a point of view worth publishing, a product worth their attention, an event worth their time — we'd like to hear what you're trying to do.

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