IN-FLIGHT caterer and ground handler Sats : S58 +0.77% on Thursday (Feb 29) posted a 41.9 per cent quarter-on-quarter rise in third-quarter net profit to S$31.5 million from S$22.2 million.

 

It recorded performance improvements among its business units and a seasonally stronger quarter for cargo, the group said in its business update.

 

There were also higher contributions from the group&rsquo s share of earnings of associates and joint ventures, which stood at S$34.6 million for the quarter.

 

For the three months ended Dec 31, 2023, revenue rose 6.5 per cent to S$1.4 billion from S$1.3 billion in the previous quarter, as volumes improved on strong seasonal demand, particularly for Worldwide Flight Services&rsquo (WFS) cargo performance.

 

Sats said that the number of flights handled and aviation meals served as at end-December returned respectively to 86 per cent and 97 per cent of pre-Covid levels, excluding WFS.

 

Cargo volume, meanwhile, was 99 per cent of pre-Covid levels on increased travel demand and seasonality factors.