SATS shares fall 6% after Q1 results announcement

SATS shares fell 6 per cent in active trading on Friday after the airport and food services provider reported a 14.4 per cent drop in its first quarter net profit on Thursday.

The counter lost 32 Singapore cents to close at S$5 on a volume of 14.05 million shares.

Revenue for the first quarter was up 5.8 per cent from a year ago, but growth in gateway services and food solutions was partially offset by lower cargo volume, which fell 1.6 per cent due to "global trade uncertainties", SATS said.

Analysts at DBS Group Research and CGS-CIMB downgraded the counter to "hold" from "buy", while OCBC maintained its "hold" …