Singapore Airlines half-yearly profit up


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