SIA Engineering Group posts profit of $60.5m for 3rd quarter 2013-14

SIAEC Group posted a profit attributable to owners of the parent of $60.5m for the quarter ended 31st December 2013. During the quarter, revenue increased by $5.6m or 2.0% to $283.8m, while expenditure grew at a higher rate of 4.7% or $11.6m. As a consequence, operating profit of $25.2m was $6.0m lower than that for the same quarter last year. The increase in expenditure was mainly from staff costs, subcontract and material costs. There was also a smaller exchange gain of $0.1m in the current period as compared to a gain of $1.6m in the third quarter of last year.