ST Engineering’s H2 net profit slips 7.1% on energy inflation, higher expenses, lower state support

ST ENGINEERING’S net profit for the second half of the year ended Dec 31, 2022, fell 7.1 per cent to S$255 million from S$274.4 million, due to energy inflation, higher expenses from its unit, Transcore, and reduced government support, the group said on Friday (Feb 24).

Revenue in H2 was, however, 17.9 per cent higher at S$4.8 billion, from S$4 billion in the same period a year earlier.

Earnings per share for the full year fell to S$0.1718, from S$0.183 previously.