News Formal

Hot stock: SATS shares fall 5.8% after drop in Q1 earnings

  • 📰 BusinessTimes
  • ⏱ Reading Time:
  • 35 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 17%
  • Publisher: 51%

Nigeria News News

Nigeria Nigeria Latest News,Nigeria Nigeria Headlines

SHARES of airport and food services provider SATS dropped 5.8 per cent in active trading on Friday, after it reported a 14.4 per cent drop in Q1 net profit on Thursday. Read more at The Business Times.

SHARES of airport and food services provider SATS dropped 5.8 per cent in active trading on Friday, after it reported a 14.4 per cent drop in Q1 net profit on Thursday.

Revenue for the first quarter was up 5.8 per cent from a year ago, but growth in gateway services and food solutions was partially offset by lower cargo volume, which fell 1.6 per cent due to"global trade uncertainties," SATS said. “We expect lower margins and earnings growth going forward, led by a weak cargo outlook and consolidation of lower margin GTR operations,” they added.

"The key variance came from higher depreciation with the adoption of SFRS 16 which resulted in recognition of right-of-use assets and higher 'other costs' due to maintenance for ground support equipment and vehicles, IT expenses, fuel costs and etc.," Ms Lim said.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 15. in NG

Nigeria Nigeria Latest News, Nigeria Nigeria Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Stocks to watch: Keppel, SATS, Aims Apac Reit, Sabana Reit, GS HoldingsTHE following companies saw new developments that may affect trading of their shares on Friday: Read more at The Business Times.
Source: BusinessTimes - 🏆 15. / 51 Read more »

Asian stocks wobble, bond yields fall on earnings woes, trade worriesAsian shares wobbled in early Thursday trading as Wall Street stocks dropped on early signs that the U.S.-China trade war could hurt corporate ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »

Stocks wobble on trade, earnings anxiety; US Treasury yields fallAsian shares wobbled in early Thursday trading as Wall Street stocks dropped on early signs that the U.S.-China trade war could hurt corporate ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »

Stocks to watch: Keppel, SATS, Aims Apac Reit, Sabana Reit, GS HoldingsTHE following companies saw new developments that may affect trading of their shares on Friday: Read more at The Business Times.
Source: BusinessTimes - 🏆 15. / 51 Read more »