News
SIA Engineering interim losses hit US$7.6 million
November 3rd 2022
SIA Engineering (SIAEC) has reported an operating loss of S$10.8 million (US$7.6 million) for the six months to September 30 compared with an operating loss of S$6.7 million in the same months in 2021. Read More » Revenue increased 37.5%, to S$362.2 million, SIAEC said in a regulatory filing to Singapore's SGX exchange, but costs increased 38%, to S$373 million. “Revenue growth was not sufficient to offset the increase in expenditure,” the MRO said. “While the recovery of the aviation industry continues to gain traction, the outlook is uncertain due to an elevated risk of global recession and geopolitical tensions. In addition, high inflation, wage pressure and cessation of wage support will pose challenges.”
