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ST Engineering posts 16.2% fall in Q4 profit, declares 15 cent per share FY14 dividend

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ST Engineering on Friday reported a 16.2 per cent drop in net profit for its fourth quarter ended Dec 31, 2014, to S$140.3 million, while revenue fell 4.6 per cent to S$1.85 billion.

ST Engineering on Friday reported a 16.2 per cent drop in net profit for its fourth quarter ended Dec 31, 2014, to S$140.3 million, while revenue fell 4.6 per cent to S$1.85 billion.

For the full year, net profit fell 8.4 per cent to S$531.95 million. Accordingly, earnings per share fell 9 per cent to 17.06 Singapore cents, from 18.73 Singapore cents a year ago.

Revenue, too, slipped 1.4 per cent to S$6.54 billion.

All its sectors' revenues (aerospace, electronics, land systems) were comparable to year-ago levels, except for marine which reported higher revenue, but revenue from "others", mainly attributable to Miltope, fell 18 per cent. Miltope makes militarised and rugged computer equipment and commercial computer-related products for the aerospace market.

The group has proposed a final dividend of 11 cents per share, consisting of an ordinary dividend of four cents and a special dividend of seven cents. Together with the interim dividend of four cents paid to shareholders in September 2014, the total dividend for the full year will amount to 15 cents per share, same as in FY2013.