SATS reports 11.5% rise in 1Q earnings to S$63.9 mil; Turkish Airlines agreement mutually terminated

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SINGAPORE (July 19): Gateway services and food solutions provider SATS saw its earnings rise 11.5% to S$63.9 million for the 1Q ended June, from S$57.3 million a year ago.

1Q18-19 revenue grew 3.0% to S$439.4 million, from S$426.5 million a year ago. Revenue from its food solutions segment rose 2.7% to S$239.5 million, while revenue from its gateway services segment grew 3.4% to S$199.6 million.

Excluding the deconsolidation impact from its divestment of 51% interest in SATS HK, the group says underlying group revenue would have been 5.9% higher, with gateway services’ revenue up 10%... (Click here to read the full story)