SINGAPORE AIRPORT TERMINAL SERVICES POSTS US$118.7 MLN FY PROFIT.

AsiaPulse News, May, 2002

SINGAPORE, May 21 Asia Pulse - Singapore Airport Terminal Services (SATS) has achieved an after tax profit of S$212.9 million (US$118.7 million) for the 2001-2002 financial year, a 24.8 per cent increase on the previous year.

The result was due to lower staff costs, specifically lower wage costs and the non-provision of a profit sharing bonus.

Revenue increased marginally by 0.9 per cent year-on-year to S$895.3 million and the SATS Group net margin improved to 23.8 per cent, up 4.6 percentage points on the previous year.

SATS CEO Prush Nadaisan said in a press statement that the full year result was a good one considering the difficult economic and industrial conditions.

"SATS achieved this positive result because of the commitment of our...