SIA’s Quarter Profit Surges by 73%
Many reports from local companies are out! SIA’s quarter profit surges by 73%! The stock price will definitely increase on such great news. Other companies that had done well include Neptune Orient at 50% increase, Robinson 51.7%, and Cosco at 37%. In addition, Creative finally saw some profits.
News of A380 may be great for SIA, but it faces strong competition if the KL and Singapore duopoly is demolished when the airspace is opened up to budget airlines. Taking the plane to KL is so much more comfortable than taking coaches through Malaysia. Since SIA owns part of a budget airline, they should be able to make money from this. However, with high fuel prices, earnings may be cut.
More third quarter profit result will be out over these few days.
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