ST Engineering posts 8% rise in Q1 revenue to S$2.9 billion as contract wins surge
Its contract wins this quarter amount to S$4.4 billion; group sees ‘immaterial’ impact from tariffs
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[SINGAPORE] ST Engineering ’s revenue rose 8 per cent to S$2.9 billion for the first quarter ended March, from S$2.7 billion in the corresponding year-ago period, on the back of broad-based growth across all segments, it said in a business update on Friday (May 9).
Shares of ST Engineering reached a 52-week high of S$7.63 – 1.6 per cent or S$0.12 higher – at market close on Friday.
The Singapore engineering giant commented that its Q1 FY2025 performance was led by “very strong growth” in its defence and public security segment, with revenue jumping 18 per cent year on year to S$1.3 billion, from S$1.1 billion.
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