Singapore Airport Terminal Services (SATS) has posted a 42% increase in profits for the fiscal third quarter due to its take-over of catering firm Singapore Food Industries (SFI).
For the three months ending 31 December operating revenue rose 79% to S$434 million ($305 million) and S$200 million of that was from SFI, says SATS, adding that profit attributable to equity holders fell 42% to S$53 million.
This offset a 3% fall in aviation revenue to S$228 million, it says.
SATS does ground handling and catering for airlines but SFI is a catering firm that mostly does work for the Singapore military.
Source: Air Transport Intelligence news