SIA Engineering reports full year earnings of $97.1 million, up 46.2% y-o-y

The company plans to pay a final dividend of 6 cents, bringing full year payout to 8 cents

SIA Engineering's earnings for FY2024 increased by 46.2% y-o-y to $97.1 million, on the back of a 37.5% jump in revenue to $1.09 billion.

The improvement can be attributed to the recovery in demand for its services with aviation picking up following the pandemic.

For the most recent second half ended March, earnings increased by 11.5% y-o-y to $37.8 million, and revenue rose 33.7% to $580.2 million.

SIA Engineering plans to pay a final dividend of 6 cents, bringing the full-year payout to 8 cents. For the preceding FY, a total of 5.5 cents was paid.

SIA Engineering sees healthy demand for its services with global air travel edging closer to pre-pandemic levels.

"However, a tight labour market, supply chain issues and inflation remain key concerns that weigh on our near-term operating margins," the company warns.

SIA Engineering shares closed at $2.29 on May 10, up 1.33% for the day but down 3.78% year to date.

 

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