SIA Engineering net profit up 7% in Q2

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SIA Engineering has posted a 7.1% rise in net profit to S$71.2 million ($58.2 million) for the three months ending 30 September compared with the same period a year ago.

Revenue decreased 1.7% to S$272.4 million during the period, said the MRO firm, while operating profit declined 1.2% to S$34 million.

For the six months ending 30 September 2012, the company's revenue declined 2.7% to S$550 million.

Operating profit also fell 2.7% to S$68.7 million, while net profit for the period increased 1.5% to S$139.3 million.

The company expects demand for its businesses in the near term to be stable.

Nevertheless, the prevailing global economic and financial uncertainties, and concerns over Europe's sovereign debt crisis will hit the recovery of the aviation industry, it added.