- SIA Engineering (SGX:S59)’s 1QFY24 net profit of S$27.0m (+28% q-o-q, +111% y-o-y) was in line with our expectation, within our guided range of S$25m-30m and forming 22% of our full-year forecast.
- - Read this at SGinvestors.io -
- In 1QFY24, the number of flights handled by SIA Engineering’s line maintenance unit in Singapore recovered to 84% of pre-pandemic volume (+69% y-o-y, +11% q-o-q).
- Balance sheet remained rock-solid with a net cash position of over S$600m as at end-1QFY24, equivalent to about 23% of SIA Engineering’s market cap.
Turnaround at the operating level.
- - Read this at SGinvestors.io -
Improving performance of JVs and associates.
- Read more at SGinvestors.io.
Above is the excerpt from report by UOB Kay Hian Research.
Clients of UOB Kay Hian may be the first to access the full report in PDF @ https://www.utrade.com.sg/.
Roy Chen CFA UOB Kay Hian Research | https://research.uobkayhian.com/ 2023-07-26
Read also UOB's most recent report:
2023-11-07 SIA Engineering - 1HFY24 Results In Line; Strong Underlying Demand Driving Improving Earnings.
Price targets by 2 other brokers at SIA Engineering Target Prices.
Listing of research reports at SIA Engineering Analyst Reports.
Relevant links:
SIA Engineering Share Price History,
SIA Engineering Announcements,
SIA Engineering Dividends & Corporate Actions,
SIA Engineering News Articles
