SIA Engineering reported an operating profit of S$2.3 million (US$1.7 million) for the fiscal year ending on March 31, marking its first full-year operating profit since the onset of the pandemic.
By J Prakash
This marks a significant turnaround from the previous fiscal year when the company faced an operating loss of S$26.3 million.
Over the past year, revenue increased by 38% to reach S$1.1 billion, and net profit surged by 66% to S$97 million, according to SIAEC.
In the second half of the fiscal year, the company achieved an operating profit of S$2.2 million, reversing a previous loss of S$15.5 million. Revenue for this period rose to S$580 million from S$434 million, with net profit climbing to S$38 million from S$34 million.
During the fourth quarter, SIA Engineering posted an operating profit of S$5.6 million, up from a loss of S$3 million in the same quarter the previous year. Revenue for the quarter increased to S$289 million from S$226 million, although net profit decreased to S$11 million from S$21 million.
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