SIA Engineering's H1 net profit slips 1.7% to $81.9m

Operating profit nearly doubled to $25.7m despite a 9.7% revenue decline.

SIA Engineering Company reported a net profit of $81.9m for the first half of FY2026–27, down 1.7% year-on-year (YoY) from $83.3m.

Revenue declined 9.7% to $658.6m. Excluding materials, revenue increased 1.6% YoY.

Operating profit surged 97.7% to $25.7m as expenditure fell 11.6% to $632.9m, supported by healthy maintenance, repair and overhaul demand and lower losses at startup subsidiaries.

The group's share of profits from associated and joint venture companies went down 10.7% to $63.7m, mainly due to higher costs associated with capacity expansion at an engine joint venture.

The decline was partially offset by higher output and profit margins at other associated companies, SIA Engineering said.

It added that the expansion costs were expected to taper off from FY2027–28, with facility development scheduled for completion by the end of that financial year.

Lower interest income, higher finance charges, and a higher tax provision also weighed on the group's net profit.

The company declared an interim dividend of 2.5 cents per share, payable on 27 November.

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