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SQ Back To Profitability In Q3, But Underperforms  
User currently offlineHuaiwei From Singapore, joined Oct 2008, 1114 posts, RR: 1
Posted (4 years 7 months 3 weeks 1 day 19 hours ago) and read 2556 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, 13134 posts, RR: 100
Reply 1, posted (4 years 7 months 3 weeks 1 day 11 hours ago) and read 2328 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



Societies that achieve a critical mass of ideas achieve self sustaining growth; others stagnate.
User currently offlineCHANGYOU From Singapore, joined Nov 2003, 271 posts, RR: 0
Reply 2, posted (4 years 7 months 3 weeks 1 day 9 hours ago) and read 2211 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, 219 posts, RR: 0
Reply 3, posted (4 years 7 months 3 weeks 1 day 1 hour ago) and read 2043 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: 3
Reply 4, posted (4 years 7 months 3 weeks 1 day 1 hour ago) and read 2002 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, 1114 posts, RR: 1
Reply 5, posted (4 years 7 months 3 weeks 23 hours ago) and read 1893 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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