SATS today reported a net profit of $40.1 million for the second quarter ended Sept 30, 2011, a 11.28% decline from $45.2 million a year ago.
The group’s share of profits of associated and joint venture companies fell 16.4% year-on-year to $13.3 million from $15.9 million
Group turnover rose 32.3% year-on-year to $424.2 million from $320.6 million, as a result of higher revenue contributions from both gateway services and food solutions businesses.
However, the group’s share of profits of associated and joint venture companies declined 16.4% year-on-year to $13.3 million from $15.9 million.
SATS says it expects to make a one-off loss of $4.7 million in its divestment of wholly-owned subsidiary S Daniels plc and International Cuisine Limited in the third quarter of the financial year, which will offset any seasonal uplift of the group.
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