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SQ Back To Profitability In Q3, But Underperforms  
User currently offlineHuaiwei From Singapore, joined Oct 2008, 1127 posts, RR: 2
Posted (6 years 1 week 3 days 20 hours ago) and read 3206 times:

SQ recorded its first quarterly profit in its financial year ending 31 March for the period October to December 2009, after two quarters of losses.

http://news.bbc.co.uk/2/hi/business/8493455.stm
http://www.channelnewsasia.com/stori...pore_business/view/1034783/1/.html

Net profit is at S$404 million, bringing net losses for the first nine months down to S$62 million. It is still trying to avoid its first ever annual loss, which some estimates at -S$3.6 million, although the airline is more upbeat.

http://www.bloomberg.com/apps/news?pid=20601080&sid=aGivMPfkcAk8

However, operating profit is down 9.5% to S$322.9 million. The net profit is also below the forecast net profit of S$448 million.

http://www.straitstimes.com/Breaking...ngapore/Story/STIStory_485428.html


It's huaiwei...not huawei. I have nothing to do with the PRC! :)
5 replies: All unread, jump to last
 
User currently offlineLightsaber From United States of America, joined Jan 2005, 15218 posts, RR: 100
Reply 1, posted (6 years 1 week 3 days 12 hours ago) and read 2978 times:
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Quoting Huaiwei (Thread starter):
However, operating profit is down 9.5% to S$322.9 million.

How many US airlines would kill for 9.5%.  

I didn't realize SQ has never had an anual loss. That is impressive.

Lightsaber



HA! My drone is lighter than required for registration.
User currently offlineCHANGYOU From Singapore, joined Nov 2003, 289 posts, RR: 0
Reply 2, posted (6 years 1 week 3 days 10 hours ago) and read 2861 times:
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S$62m is relatively a small amt to achieve and can be done easily base on past SQ's quarterly net earnings. And with the flights flying at 80% these days am sure another round of annual profit for SQ. Well fingers cross...

User currently offlineFauzi From Brunei, joined Jul 2005, 220 posts, RR: 0
Reply 3, posted (6 years 1 week 3 days 2 hours ago) and read 2693 times:



Quoting Lightsaber (Reply 1):

Quoting Huaiwei (Thread starter):
However, operating profit is down 9.5% to S$322.9 million.

How many US airlines would kill for 9.5%.  

Hahaha  bigthumbsup 

A $3.6million loss is a small amount for SQ, and I am sure they can continue their annual profit streak again!



BI - The Asian Underdog
User currently offlineDocPepz From Singapore, joined May 2001, 1971 posts, RR: 2
Reply 4, posted (6 years 1 week 3 days 1 hour ago) and read 2652 times:

I would hardly call the quarter's performance an underperformance! It's amazing how they did it considering the breakeven load factor for the previous quarter was 88%.

The financial statements can be found here:

http://info.sgx.com/webcoranncatth.n...ile/SGXAnn3QFY0910.pdf?openelement


Looking at the expenses, the meal costs went up from S$60m to S$120m in the quarter, and the ground handling costs went up by about 70%. Is there any reason why this happened?


User currently offlineHuaiwei From Singapore, joined Oct 2008, 1127 posts, RR: 2
Reply 5, posted (6 years 1 week 2 days 23 hours ago) and read 2543 times:

Quoting Fauzi (Reply 3):
A $3.6million loss is a small amount for SQ, and I am sure they can continue their annual profit streak again!

It is a small amount, but SQ is a proud and superstitious airline who would kill itself if it has to have a permanent red mark in its annual financial history books, even if it is just -S$1!

Quoting DocPepz (Reply 4):
I would hardly call the quarter's performance an underperformance!

The "expert analysts" thinks so thou.  

Quoting DocPepz (Reply 4):
Looking at the expenses, the meal costs went up from S$60m to S$120m in the quarter, and the ground handling costs went up by about 70%. Is there any reason why this happened?

A wild guess: divestment in SATS, which means SQ was enjoying fiscal favours before?

I read elsewhere that complains against SQ's catering has been on the rise, and some wondered if it was due to the divestment of SATS too.

[Edited 2010-02-03 05:19:28 by huaiwei]


It's huaiwei...not huawei. I have nothing to do with the PRC! :)
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