ST Engineering posts quarterly gains

13 November 2018

Singapore Technologies Engineering (ST Engineering) has posted small gains in revenues and profit during the third quarter of fiscal year (FY) 2018, although defence sales in the period have declined as a proportion of overall intake.

The group said on 14 November that its revenues in the quarter that ended 30 September reached SGD1.62 billion (USD1.1 billion), an increase of 1% compared with the same quarter in 2017. Profit before tax climbed 2% to SGD165.8 million while profit attributable to shareholders increased 5% to SGD134.6 million.

ST Engineering added that during the quarter commercial and defence sales constituted 73% (or SGD1.2 billion) and 27% (or SGD400 million) respectively.

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