- SIA Engineering (SGX:S59)'s 2QFY23 (Jul to Sep 2022) net profit came in at S$19.7m (+53.9% q-o-q, +87.6% y-o-y), with 1HFY23 net profit of S$32.5m accounting for 44% of the consensus’ full-year estimate and 46% of our full-year estimates, thus largely in line with expectations, given our expectation of a back-loaded recovery. 2QFY23 revenue amounted to S$190.7m (+11.2% q-o-q, +38.0% y-o-y), driven by a recovery in work volumes across line maintenance and hangars. See SIA Engineering's announcement dated 01 Nov 2022.
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Line maintenance volumes picked up to around 65% of pre-pandemic levels by the end of 1HFY23
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