SIA Engineering profit rises 20.9% and board lifts final dividend

SIA Engineering Company shares rose on Tuesday after the Singapore-listed aircraft maintenance provider reported a 20.9% rise in net profit for the six months ended Mar 31. ^{[1, 2, 3]}

The company posted net profit of S$85.6 million for the period, up from a year earlier, while revenue climbed 3.7% to S$693.9 million. ^{[1, 2, 3]}

Its board recommended a final dividend of S$0.085 a share, compared with S$0.07 a share a year earlier. ^{[1, 2, 3]}

DBS Group Research kept its buy rating on the stock and left its target price unchanged at S$3.80. Analyst Jason Sum said results should "continue to be supported by capacity and capability expansion across both subsidiaries and associates (or) joint ventures". ^[2]

The counter traded higher in early morning after the results were announced and closed at S$3.28, up 3.1%. ^{[1, 3]}

The shares briefly touched S$3.32 during the session. ^{[1, 2, 3]}