SATS returns to black with $56.4m FY24 profit
The airport service company credited its improved performance to record revenue.
SATS swung back to black, posting a $56.4m profit attributable to owners in FY24.
In FY23, the company posted a loss of $26.5m.
The airport service company attributed its improved financial performance to record revenue of $5.1b, propelled by robust aviation sector recovery and consolidation with Worldwide Flight Services (WFS).
Compared to FY23, revenue rose 192.9% YoY in FY24.
Breaking down by business segment, SATS reported a 354.8% YoY higher Gateway Services revenue of $4.0b and a 27.4% YoY Food Solutions revenue of $1.1b.
With higher profits, the company declared earnings per share of $0.038.