SATS posts 12% rise in Q1 earnings to $46.2 mil

SATS has recorded an 11.9% y-o-y increase in earnings for 1Q2013, to $46.2 million.

While group revenue had fallen by $3.4 million or 0.8% to $434.5 million, owing to the $15.7 million decrease in sales in its food solutions business, its gateway services business saw a $12.3million increase in sales.

The group’s operating profits for the quarter grew 3.6% y-o-y, to $40.7 million. This was the result of the cost saving initiatives which the group had undertaken.