ST Engineering's Q3 profit slips 8%

Singapore

SINGAPORE Technologies Engineering (ST Engineering) posted a 7.7 per cent dip in net profit to S$121.3 million for the third quarter from S$131.4 million a year ago, largely due to weak European operations.

Revenue was flat at S$1.553 billion against S$1.55 billion a year earlier, on the back of lower revenue in the aerospace business which offset the 14 per cent higher revenue from the marine sector.