A 6.5% rise in group revenue
Sats, a Singapore-based specialist in gateway services, has released its results for the three months ended 31 December 2023.
For this third quarter of FY/2024, group revenue increased by 6.5% QoQ to SGD 1.4 billion, primarily due to volume improvements boosted by strong seasonal demand, particularly in cargo for WFS.
In December 2023 (excluding WFS), aviation food and flight volumes reached 97% and 86% respectively, while cargo volumes recovered to 99% of pre-Covid levels in Q3/FY2024, primarily due to increased travel demand and seasonality factors.
Group expenditure rose 5.2% QoQ to SGD 1.3 billion as business volume growth and productivity measures began to have a positive impact on results. In Q3/FY/2024, the group reported an operating profit of SGD 85.8 million, a 31.0% improvement QoQ, reflecting greater efficiencies and benefiting from a more balanced business mix in aviation food and air cargo. (cj)