SIAEC’s net profit dips 1.2% YoY to $66.4m in FY22/23

Despite the decline, the company proposed a final dividend of $0.55.

Despite a reduction in wage support, SIA Engineering Company (SIAEC) still recorded a lower net profit in FY22/23 at $66.4m.

To compare, the company recorded a $67.6m net profit in FY21/22.

Despite the dip in its net profit, the company proposed a final dividend of $.055 for FY22/23, marking the first since the onset of COVID-19.

Meanwhile, the aircraft maintenance specialist also reported narrowing its operating losses on the back of progressively increasing business activities.

In FY22/23, flights handled by SIAEC reached about 65% of its pre-pandemic volume.

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