ST Engineering H2 profit increases 3.8%; to up dividend payout frequency to 4 times

FOR the second half of the financial year ended Dec 31, 2021, Singapore Technologies Engineering (ST Engineering) S63 reported a net profit of S$274.4 million, inching up 3.8 per cent year on year from S$264.4 million.

In its financial results on Friday (Feb 25), the engineering heavyweight said that due to a "significant" reduction of non-taxable government support in H2 FY2021, its H2 net profit growth of 3.8 per cent was lower than its H2 pre-tax profit growth of 20.1 per cent on-year. The pre-tax profit rose to S$297.8 million from S$248 million.

Revenue for the second half of FY2021 was S$4 billion, a 12.7 per cent increase from S$3.6 billion a year ago, as all 3 business segments posted higher revenue year on year.