SIA Engineering Q2 profits down 1.55% to $38m

It blamed lower airframe and fleet management revenue.

SIA Engineering’s profits for the second quarter of 2018 fell 1.55% to $38m from $38.6m in the same period last year. Revenue also fell 8.5% to $251.3m from $274.7m.

According to its financial statement, revenue fell due to lower airframe and fleet management revenue. Expenses fell 5.7% to $240m, primarily due to decreases in material and subcontract costs.

The share of profits of associated and joint venture companies soared 31% to $30m, with a $6.3m increase in the share of profits from the engine and component centres and an $800,000 increase in contributions from the airframe and line maintenance segment.

“With longer maintenance intervals and lighter work content arising from new-generation aircraft, coupled with keen competition, the operating environment will remain challenging,” the company said.

SIA Engineering declared an interim dividend of 3 cents per share payable on 28 November 2018.

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