ST Engg's Q1 earnings down 15.2%
Higher sales from aerospace and electronics divisions help lift revenue 7.7% to S$1.63b
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Singapore
UNFAVOURABLE headwinds in the shipbuilding sector and a slowdown in China resulted in Singapore Technologies Engineering (ST Engg) posting a 15.2 per cent fall in first-quarter net profit attributable to shareholders. This was despite a growth in revenue.
For the quarter ended March 31, 2016, ST Engg's profit attributable to shareholders was S$110.2 million, down from the S$130 million one year ago. This came on the back of a 7.7 per cent rise in revenue to S$1.63 billion from S$1.51 billion, mainly due to higher sales from the aerospace and electronics divisions.
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