Spotlight
Singapore Airlines half-yearly profit up
November 2002 584
Singapore Airlines (SIA) said its half year net profit rose nearly six-fold to $434.8 million from last year, boosted by its cargo operations.
The result for the six months to September, which compared with $134.8 million for the same period in 2001, was achieved on a 10.5 per cent surge in revenues.
"A large part of the improvement was due to cargo operations," it said in a statement.
The carrier was also boosted from a tax write-back of $278 million resulting from a cut in the corporate tax rate from 24.5 per cent to 22 per cent
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