ST Engineering posts quarterly gains

14 May 2019

Singapore Technologies Engineering (ST Engineering) has recorded gains in revenue and profit in the first quarter of fiscal year 2019, the company said on 15 May.

Revenue in the quarter ended 31 March was SGD1.73 billion (USD1.26 billion), a year-on-year increase of 5%, while net profit climbed 11% to SGD131 million. Defence sales constituted 30% of total revenue.

ST Engineering attributed growth to gains to its land systems unit, which increased sales by 34% to SGD377 million, and its aerospace sector, which increased revenue by 4% to SGD622 million.

The company’s marine sector recorded flat revenue at SGD149 million, while its Electronics unit posted a 7% decline in sales to SGD563 million.

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