SINGAPORE: Changi Airport’s biggest ground-handling firm, Sats, reported a 21 per cent jump in net profit to $51.6 million, for the three months to March 31, 2015.
Group revenue slipped 2.2 per cent to $425.1 million compared with the same three months last year. But total spending fell 3.2 per cent to $380.4 million, due mainly to the lower cost of raw materials as well as successful productivity measures which have mitigated rising labour costs, Sats said.
Consequently, operating profit improved 7.2 per cent year-on-year to $44.7 million.
Share of after-tax profits from overseas associates and joint venturers also rose strongly by 32.3 per cent to $13.1 million.
