Singapore ground handler SATS posts higher Q1 profit

This story is sourced from Pro
See more Pro news »

Ground handler and catering firm Singapore Airport Terminal Services (SATS) posted a 10% rise in first quarter net profit.

Net profit for the three months ending 30 June rose 10% to S$44.3 million ($33 million) thanks to a 9% rise in operating revenue to S$382.1 million, SATS tells the Singapore stock exchange.

Group revenue rose because of increased volumes across all aviation operations, it says.

"The group's aviation business is expected to improve further with the continued economic recovery in Asia," says SATS.

"Increased passenger traffic is anticipated in the coming quarters as full-service carriers continue to fill up seats, improve yields and add more flights."

"Cargo volumes are expected to align with projected slower economic growth during the second half of 2010," it adds.