Sats' Q1 profit up 9.1% on cargo, food service

Airline caterer Sats grew its earnings 9.1 per cent year on year to $70.9 million for the first quarter ended June 30, boosted by growth in aviation cargo and food service volumes.

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Revenue for the quarter was up 9.9 per cent at $1.5 billion.

Of this, $1.18 billion came from gateway services, 11.2 per cent higher than in the year-ago period, due to a larger customer portfolio.

Significant customer wins included carriers Cathay Cargo, Cathay Pacific, Emirates SkyCargo, Riyadh Air and Turkish Airlines.

Sats' chief executive Kerry Mok said in a statement on Aug 20: "Our recent hub management agreement with Riyadh Air further highlights our ability to grow in spite of a volatile environment."