A healthy set of financial numbers
SATS reported a strong set of financial numbers for the first nine months of fiscal 2024 (9M FY2024) ending 31 December 2023, in line with the robust growth in air travel. Revenue for 9M FY2024 tripled year on year from S$1.3 billion to S$3.8 billion with the ground handler reporting an operating profit of S$161.5 million, reversing the operating loss of S$43.4 million a year ago....SATS Ltd (SGX: S58) is upping its game.
Not only did the airline ground handler and food caterer report a sparkling set of numbers for its latest business update, but management also followed up with an acquisition and divestment.
The sharp recovery in air travel and tourism is boosting SATS’ business.
However, its share price has continued to languish, falling by 7.3% year to date to S$2.55.
With the blue-chip group’s change in fortunes and recent acquisition, can investors look forward to a rebound this year?
