- SIA (SGX:C6L) delivered an estimated 2QFY24 (Jul to Sep 2023) core net profit of S$648m, in line with our S$600m- 650m preview forecast.
- The 2QFY24 EBIT of S$799m was 5.9% higher than 1QFY24’s S$755m, but we believe that after stripping out forex gains, the 2Q EBIT may actually be lower than the immediately-preceding 1Q.
Decent 2QFY24, albeit weaker than 1QFY24 on higher fuel prices
- - Read this at SGinvestors.io -
- Scoot’s core EBIT fell 24% q-o-q to S$9m, while
- cargo’s core EBIT fell 97% to S$2m.
Topline may come under competitive pressure
- Read more at SGinvestors.io.
Above is the excerpt from research report by CGS-CIMB.
Clients of CGS-CIMB may access the full report in PDF @ https://www.itradecimb.com.sg/.
Raymond YAP CFA CGS-CIMB Research | https://www.cgs-cimb.com 2023-11-08
Read also CGS-CIMB's most recent report:
2024-01-09 Singapore Airlines - Upgrade To ADD For Big Returns Over Half Year.
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