ST Engineering Q4 profit rises 36.2% to S$169.5m

ST Engineering on Monday posted a 36.2 per cent rise in its fourth quarter net profit to S$169.5 million, up from S$124.5 million a year ago. 

This came as revenue for the quarter climbed 29 per cent to S$2.29 billion, from S$1.77 billion in the same period a year earlier.

Revenue for the three months ended Dec 31 were led by a 47.2 per cent increase in contribution from its marine sector to S$204.1 million, as well as a 45.3 per cent growth in revenue from its aerospace sector to S$940.6 million. 

For the full year, net profit rose 16.9 per cent to S$577.9 million, up from S$494.2 million a year ago. 

This translated to earnings per share of 18.53 Singapore cents, versus earnings per share of 15.85 Singapore cents for the preceding year. 

The board of directors has proposed a final dividend of 10 Singapore cents per share. Together with the interim dividend of five Singapore cents per share paid in September 2019, shareholders will receive a total dividend of 15 Singapore cents per share for FY2019.

Payment of the final dividend is subject to the shareholders' approval at the upcoming annual general meeting on April 23.

ST Engineering shares closed at S$4.24 on Friday, down S$0.03 or 0.7 per cent.