SIA Engineering Group has recorded revenue of SG$104.6 million for the third quarter of full-year 2020-21, SG$147.5 million lower year-on-year (-58.5%). Even as cost-cutting measures and grants from government support schemes remained, the reduction in Group expenditure of SG$132.5 million (-56.1%) could not fully offset the reduction in revenue. Consequently, the Group recorded a lower operating profit of SG$1.1 million (-93.2%) compared to SG$16.1 million in the same quarter last year.
Share of profits of associated and joint venture companies was SG$12.3 million, a reduction of SG$27.3 million (-68.9%) year-on-year. Contributions from associated and joint venture companies were similarly impacted by the reduction in flying hours and extended maintenance intervals, partially offset by cost saving measures and government support.
Net profit was SG$7.7 million for the quarter ended December 31, 2020, 85.7% lower than the same quarter last year.
