ST Engineering H2 profit rises 19.6% to S$365.7 million

ST ENGINEERING on Thursday (Feb 27) reported a net profit of S$365.7 million for the second half ended Dec 31, up 19.6 per cent from S$305.9 million in the previous corresponding period

The defence and engineering group’s revenue rose 9.9 per cent to S$5.8 billion from S$5.2 billion. This was mainly driven by the defence and public security, as well as commercial aerospace segments.

Defence and public security revenue grew 20 per cent to S$2.6 billion from S$2.1 billion, on the back of higher contributions from all sub-segments. Commercial aerospace revenue rose 5 per cent to S$2.2 billion from S$2.1 billion. Meanwhile, revenue from the urban solutions and satellite communications (satcom) business was flat at S$1.04 billion, mainly due to margin mix.