Together with first-half results, profits for the nine months to end-December hit $104.5 million - a 28.8 per cent drop compared to a year earlier. -- PHOTO: ZAOBAO
GROUND-handling and catering company Singapore Airport Terminal Services (SATS) reported a 25.4 per cent drop in earnings for the three months to end-December.
In a statement to the Singapore Exchange on Thursday, the Singapore Airlines subsidiary said profits for the third-quarter came to $37.6 million.
Lower business volumes led to a 0.9 per cent slide in turnover, compared to the same quarter a year ago.
The company reported revenues of $242.4 million.
Expenditure was up marginally by 0.8 per cent, due to higher raw material costs as well as higher utilities charges and counter rentals incurred for Terminal 3 operations at Changi Airport, SATS said.
Together with first-half results, profits for the nine months to end-December hit $104.5 million - a 28.8 per cent drop compared to a year earlier.
Net asset value per share dropped to $1.24, from $1.29 as at 31 March 2008.
