SIA Engineering revenue up 18.1%, profits soar in 1QFY2011

SIA Engineering revenue up 18.1% - financial highlights for the three months ended 30-Jun-2010:

• Revenue: USD210.7 million, +18.1% year-on-year;
• Total costs: USD184.2 million, +8.7%;
• Operating profit: USD26.5 million, +194.3%;
• Net profit: USD51.7 million, +57.0%;
• Total assets: USD1,218 million, +6.7%;
• Cash and cash equivalent: USD388.0 million, +24.7% when compared to 31-Mar-2010. [more]

*Based on the conversion rate at USD1 = SGD1.36844

SIA Engineering: "With the recovery of the aviation industry, the growth of traffic at Changi and the increased utilisation of aircraft by our customers are expected to have a favourable impact on the Company's maintenance, repair and overhaul (MRO) business. The Company's joint ventures have also started to recover, albeit at a more gradual pace," Company statement. Source: SIA Engineering, 23-Jul-2010.