ST Engineering Q3 earnings down 10%

SINGAPORE Technologies Engineering posted a 10.3 per cent year-on-year slide in net profit to $131.4 million for the third quarter ended Sept 30, 2013.

Revenue was flat at $1.55 billion.

Its marine sector reported higher revenue while revenue from the aerospace and electronics sectors were comparable to the corresponding quarter last year. However, revenue from its land systems business slipped 11 per cent while that of its others category - which includes ST Synthesis and Miltope - was 33 per cent lower.