17 May '13, 1am

Singapore Airlines shares fall on Q4 earnings, tough outlook: SINGAPORE, May 17 (Reuters) - Shares of Singapor...

SINGAPORE, May 17 (Reuters) - Shares of Singapore Airlines Ltd (SIA ) fell as much as 3 percent after Asia's second-largest carrier reported weaker-than-expected full-year results and warned of a tough outlook amid competition from Gulf carriers and low-cost regional rivals. SIA shares fell as low as S$11.11 on Friday, the weakest level since May 7. SIA said on Thursday net income rose nearly 13 percent to S$379 million ($304 million) for the year to March 31, below an average forecast of S$409.6 million, according to Thomson Reuters StarMine SmartEstimates. The fourth-quarter profit of S$68.3 million was also below market estimates. Full-year operating profit fell nearly 20 percent, with the airline blaming persistently high fuel prices and the global economic slowdown. OCBC Investment Research downgraded the stock to "sell" from "hold" and cut its target price to S$10.00...

Full article: http://news.yahoo.com/singapore-airlines-shares-fall-q4-e...

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