A surge in profit and free cash flow
Revenue for FY2024 nearly tripled year on year to S$5.1 billion, a record, contributed mainly by the consolidation of Worldwide Flight Services (WFS), an increase in air cargo volumes, and the ongoing travel recovery. Operating profit came in at S$244.2 million, reversing the operating loss of S$48 million a year ago. Net profit stood at S$56.4 million, a...The surge in air travel and strong demand for holidays have benefitted the airline, travel, and hospitality sectors.
Several beneficiaries include Singapore’s blue-chip carrier Singapore Airlines Limited (SGX: C6L) and maintenance, repair and overhaul (MRO) specialist SIA Engineering Ltd (SGX: S59).
SATS Ltd (SGX: S58) also reported a robust set of earnings for its latest fiscal 2024 (FY2024) results ending 31 March 2024.
The airline ground handler and food caterer turned in a sparkling report card and also resumed paying dividends.
Here are five highlights from the group’s latest FY2024 earnings report.
