SIA Engineering Group has recorded a profit attributable to owners of the parent of SG$40.5 million for the quarter ended 30 June 2018, an increase of SG$3.8 million or 10.4%, mainly from an increase in share of profits of associated and joint venture companies, partially offset by a decrease in operating profit.
Operating profit of SG$10.2 million was SG$8.5 million or 45.5% lower than the same quarter last year. Revenue at SG$257.7 million was SG$15.1 million or 5.5% lower year-on-year, mainly due to lower airframe and fleet management revenue. Expenditure decreased year-on-year by SG$6.6 million or 2.6% to SG$247.5 million, mainly due to an exchange gain of SG$2.8 million in the current quarter against an exchange loss of SG$1.8 million in the same quarter last year, and lower subcontract services costs.
Share of profits of associated and joint venture companies increased SG$11.3 million or 53.6% to SG$32.4 million, contributed by an SG$11.8 million increase in share of profits from the engine and component centres. Basic earnings per share was 3.62 cents for the current quarter.
