ST Engineering’s H1 profit rises 19.9% to S$336.5 million

SINGAPORE Technologies Engineering’s (ST Engineering) net profit for the first half ended Jun 30, 2024, grew 19.9 per cent year on year (yoy) to S$336.5 million, from S$280.6 million previously.

Earnings per share for the period stood at S$0.108, up from S$0.0901 in the same period the year before. The group’s board has approved a second interim dividend of S$0.04 per share to be paid out on Sep 5.

ST Engineering’s higher profitability for H1 came on the back of a 13.5 per cent surge in revenue to S$5.5 billion, versus S$4.9 billion in H1 FY2023.