ST Engineering posts 21% jump in Q4 profit

SINGAPORE Technologies Engineering (ST Engineering) on Thursday posted a 21 per cent jump in net profit for the fourth quarter ended Dec 31, 2016, to S$170.4 million, on the back of stronger contribution from aerospace, land systems and "others" business segments.

But it marked a full-year drop in net profit of 8.4 per cent to S$484.5 million, dragged down by land systems, marine and "others" business segments. Revenue grew 5.5 per cent to S$6.68 billion.

"Barring unforeseen circumstances, the group expects FY2017 revenue to be comparable, while profit before tax is expected to be higher than that of FY2016," the group said.

The board has proposed a final dividend of 10 cents per share, bringing the total dividend of 15 cents per share for FY2016 to be the same as FY2015.