Singapore Technologies Engineering (ST Engineering) has reported strong financial gains for the second quarter of 2019, the company said on 14 August.
ST Engineering said revenue in the quarter was SGD1.78 billion (USD1.28 billion), up 8% compared with the corresponding period last year. Net profit climbed 18% to SGD138.2 million.
The company also said its orderbook at the end of June was a “record high” of SGD15.6 billion, of which SGD3.8 billion is expected to be delivered in the remainder of 2019.
Defence sales during the quarter constituted 29% – or about SGD500 million – of total sales, with the remainder attributed to commercial sectors.
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