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Singapore Air Terminal Services (SATS) reported a 4.3 percent increase in first quarter meal production while earning an operating profit of SGD45.7 million (US$30 million) for the period April through June. Though operating profits dropped 4.2 percent on sales of SGD232.5 million (US$152.8 million) SATS attributed the drop in revenue to rate reductions, suspension of flights by some airline clients and the expiration of the hold-baggage screening contract at Singapore Changi Airport. There was also a slight drop in cargo revenue. During the first three months of the fiscal year, SATS reported meal production of 6.2 million, up 4.3 percent from the 5.95 million during the first quarter of 2006. During the 2007-08 period SATS predicted that catering and ground handling operations will “grow at a steady pace.” To keep pace with competition, the company says that management will work to “improve productivity gains and service quality.” Shortly after the announcement of its first quarter financials, SATS reported July unit meal production of 1.71 million, up 2.8 percent from the 1.66 million unit meals produced in July of last year. |
