SATS Stock Slipped 4.7% As H2’s Bottom Line Down 16.7% to S$6 Million

Simply Wall St2023-05-30

SATS stock slipped 4.7% as H2’s bottom line down 16.7% to S$6 million.

SATS has reported a loss of $26.5 million for FY2023 ended March 31, compared to the earnings of $20.4 million in the preceding FY2022.

The loss was attributable to the one-off expenses of $44.9 million from the merger and acquisition (M&A) of Worldwide Flight Services (WFS). The acquisition of WFS was completed on April 3 where it became a subsidiary of SATS. WFS’s financial information will be consolidated into SATS’s financial results with effect from 1QFY2024.

Loss per share stood at 2.2 cents for the year, down from the earnings per share (EPS) of 1.7 cents on a diluted basis.

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Comments

  • Success88
    2023-05-30
    Success88
    Is normal! looking in long term this counter still have potential in having much earning and divdend. This is just a litter set back due to one off issue 
  • KukuChiko
    2023-05-30
    KukuChiko
    It is expected.
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