SATS Q1 net slips 14.4% on macro headwinds

Singapore

A WEAKER global economy put a dent in airport and food services provider SATS' first-quarter net profit, which fell 14.4 per cent from the same period a year earlier to S$54.7 million.

Revenue was S$465.1 million, up 5.8 per cent from the same period a year earlier, though growth in the gateway services and food solutions segments was partially offset by lower cargo revenue. Cargo volume handled in the first quarter was…