- SATS (SGX:S58) reported 4QFY24 net profit of S$32.7mil, marking a 3.8% q-o-q improvement despite 4QFY24 being a seasonally slower period.
4QFY24 was a solid beat across the board
- SATS's FY24 full-year net profit amounted to S$56.4mil, beating the street’s expectation by approximately 14%, largely driven by stronger-than-anticipated operating margins from economies of scale and contributions from associates/JVs. Core net profit, excluding WFS integration costs and one-off impairments on some legacy businesses, was S$47.3mil in 4QFY24, representing an impressive 48.7% increase on a sequential basis.
- - Read this at SGinvestors.io -
Dividend reinstatement was a surprise
- - Read this at SGinvestors.io -
- Having finally returned to profitability without government reliefs, SATS declared a final dividend per share of 1.5 cents representing a payout ratio of ~40%, signalling management’s confidence in sustained business improvement. See SATS's dividend dates.
Business momentum continues to be robust amid travel recovery and a rebound in global cargo volumes.
- Read more at SGinvestors.io.
