SCS - Earnings continue to improve; results above our forecasts - Earnings Flash
  • 2020-10-19T20:35:08
  • Company Research
SCS released its Q3 2020 results with revenue declining 10% YoY to VND167bn (USD7.2mn) and NPAT-MI falling 9.9% YoY to VND115bn (USD5mn). Compared to Q2 2020’s NPAT-MI of VND100bn (USD4.3mn; -22% YoY), Q3’s results rebounded as air freight capacity improved, offsetting the negative impact of international air travel restrictions. In Q3 2020, international cargo volume declined 8.3% YoY, which was mainly because the belly-hold cargo capacity of passenger aircraft has significantly declined