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Singapore Airlines’ FY16 earnings soared to $804.4 million, from $367.9 million in the last financial year, as lower net fuel costs compensated for weaker yields. Dividends received from long-term investments increased by $102 million, while SIA’s share of losses of associated companies were reduced by $118 million. Revenue fell 2.2% to $15.23 billion in FY16, largely due to lower passenger revenue at the parent airline company, as well as lower cargo revenue. These were compensated in part by higher revenue from subsidiary airlines, and income earned from the release of seven A350-900 delivery slots in SIA’s agreement with Airbus.
Foreign currency exchange affected Singtel’s bottomline in the fourth quarter ended March, which stood at $946 million. In constant currency terms, earnings would have increased 4%. Operating revenue slid 5.6% to $4 billion. For the full-year, revenue fell 1.5% to $7 billion, but earnings increased 2.4% to $3.9 billion. In constant currency terms, earnings would have risen 6% for the year. The group declared a final dividend of 10.7 cents a share, bringing the total dividend payout for the year to 17.5 cents per share.
Singapore Technologies Engineering's (ST Engineering's) earnings fell 15% to $110.2 million in the first quarter ended March 31, 2016, from $130 million a year ago. The poorer bottom line was attributed to lower profits from the land systems and marine segments, says the engineering solutions provider. Revenue, however, rose 8% to $1.63 billion from $1.51 billion, on higher sales from the aerospace and electronics segments.
Transport group ComfortDelGro reported 1Q earnings of $73.4 million, 8.6% higher than the year before. This came on the back of higher revenue, but was partially offset by higher operating costs. Group revenue of $995.6 million in 1Q16 was $32.1 million or 3.3% higher compared to $963.5 million for 1Q15. This was driven by its bus, rail, taxi and driving centre businesses but dragged down by an unfavourable foreign currency translation of $10.9 million.
Noble Group’s 1Q earnings fell 62% to US$40.5 million ($55.5 million) from US$106.6 million a year ago, hit by “constrain in capital in its energy, gas and power segments, as it focused on managing liquidity”. Separately, the group announced it has arranged a syndicated committed unsecured 364 day revolving loan facility for US$1 billion. The transaction was supported by 25 banks globally. It also arranged another revolving borrowing base facility for US$2 billion, which will be used by three of its subsidiaries to grow their US business. In 1Q, revenue fell 32% to US$11.4 billion from US$16.64 billion.
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Singapore Airlines’ FY16 earnings soared to $804.4 million, from $367.9 million in the last financial year, as lower net fuel costs compensated for weaker yields. Dividends received from long-term investments increased by $102 million, while SIA’s share of losses of associated companies were reduced by $118 million. Revenue fell 2.2% to $15.23 billion in FY16, largely due to lower passenger revenue at the parent airline company, as well as lower cargo revenue. These were compensated in part by higher revenue from subsidiary airlines, and income earned from the release of seven A350-900 delivery slots in SIA’s agreement with Airbus.
Foreign currency exchange affected Singtel’s bottomline in the fourth quarter ended March, which stood at $946 million. In constant currency terms, earnings would have increased 4%. Operating revenue slid 5.6% to $4 billion. For the full-year, revenue fell 1.5% to $7 billion, but earnings increased 2.4% to $3.9 billion. In constant currency terms, earnings would have risen 6% for the year. The group declared a final dividend of 10.7 cents a share, bringing the total dividend payout for the year to 17.5 cents per share.
Singapore Technologies Engineering's (ST Engineering's) earnings fell 15% to $110.2 million in the first quarter ended March 31, 2016, from $130 million a year ago. The poorer bottom line was attributed to lower profits from the land systems and marine segments, says the engineering solutions provider. Revenue, however, rose 8% to $1.63 billion from $1.51 billion, on higher sales from the aerospace and electronics segments.
Transport group ComfortDelGro reported 1Q earnings of $73.4 million, 8.6% higher than the year before. This came on the back of higher revenue, but was partially offset by higher operating costs. Group revenue of $995.6 million in 1Q16 was $32.1 million or 3.3% higher compared to $963.5 million for 1Q15. This was driven by its bus, rail, taxi and driving centre businesses but dragged down by an unfavourable foreign currency translation of $10.9 million.
Noble Group’s 1Q earnings fell 62% to US$40.5 million ($55.5 million) from US$106.6 million a year ago, hit by “constrain in capital in its energy, gas and power segments, as it focused on managing liquidity”. Separately, the group announced it has arranged a syndicated committed unsecured 364 day revolving loan facility for US$1 billion. The transaction was supported by 25 banks globally. It also arranged another revolving borrowing base facility for US$2 billion, which will be used by three of its subsidiaries to grow their US business. In 1Q, revenue fell 32% to US$11.4 billion from US$16.64 billion.
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