SIA had earlier reported that net profit for the three months to June 30 fell 38.4 per cent to $452 million, from $734 million a year earlier.
SIA had declared 38 cents per share in full-year dividend in May when it posted fiscal 2023/2024 earnings. So factoring in the 38-cent dividend that was no longer payable, SIA shares had dropped 46 cents or 6.6 per cent. Analysts say investors might hold back from buying the stock for now until there is more clarity in the earnings outlook. They point out that unlike the past two years, when the group posted strong profit growth, it is facing a market with significantly increased capacity and competition which is putting pressure on yields.
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