ST Engineering posts declines in sales and profits

11 August 2017

Singapore Technologies Engineering (ST Engineering) posted declines in earnings and profits in the second quarter of 2017, the group announced on 11 August.

The company said its earnings before interest and tax for the quarter ending 30 June declined year on year (y/y) by 5% to SGD130.8 million (USD96 million). ST Engineering's pre-tax profit fell 12% to SGD149.8 million.

Despite these decreases, ST Engineering said its revenues in the quarter climbed to SGD1.7 billion, an 8% increase on the corresponding period of 2016. In addition, the company's order book remained strong at SGD13.5 billion, compared with SGD13.3 billion at the end of March 2017.

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