SATS H2 earnings recover to $7.2m
The company had a net loss of $2m for the same period last year.
SATS Ltd. reported a profit attributable to owners of the company of $7.2m in the second half of the financial year 2021-2022.
This is a recovery from the $2m loss recorded for the same period last year.
In a bourse disclosure, the company noted that travel recovered in the fourth quarter, despite China's strict lockdown. This drove revenue to grow to $607.3m from $529.5m.
Revenue from food solutions increased by 10.8% to $330.6m, whilst revenue from gateway services grew by 19.5% to $275.2m.
SATS is investing in production automation for its Food Hub and upgrading its SATS Integrated Operations Command with artificial intelligence and machine learning.