SIA Engineering's third-quarter net profit down 9.7%
SIA Engineering has posted a 9.7 per cent drop in its third-quarter net profit from the same period a year ago to $60.5 million, due to a rise in expenses and a smaller exchange gain.
Revenue for the three months ended Dec 31 last year climbed 2 per cent from a year ago to $283.8 million, while expenditure grew at a higher rate of 4.7 per cent year-on-year to $258.6 million.
As a result, operating profit fell 19.2 per cent to $25.2 million.
"The increase in expenditure was mainly from staff costs, subcontract and material costs." the company said.