SATS's 3Q earnings up 2.3% to S$66.6m on one-off write-back

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SINGAPORE (Feb 13): Airport gateway services and food solutions provider SATS saw its earnings rise 2.3% to S$66.6 million for the 3Q ended December, from S$65.1 million a year ago.

This was mainly due to a S$4.5 million write-back of earn-out consideration recorded during the quarter. The write-back is an adjustment for the earn-out targets not met for the acquisition of additional equity interest in MacroAsia Catering Services Inc.

Group revenue slipped marginally by 0.2% to S$439.8 million in 3Q17/18, from S$440.9 million a year ago... (Click here to read the full story.)