ST Engineering profits up 5.3% to $134.59m in Q3

Earnings per share grew 5% to $0.432.

ST Engineering’s Q3 profits rose 5.3% YoY from $127.82m to $132.59m, an announcement revealed. Revenue for the firm inched up 1% to $1.63b whilst earnings per share (EPS) grew 5% to $0.432.

For its aerospace sector, the firm saw a revenue increase of 13% YoY to $689m in Q3 backed by the broad-based growth from its business groups. Its electronics sector’s revenue also inched up 2% to $491m driven by higher revenue recognition from its Large-scale Systems group and Communication & Sensor Systems group

Meanwhile, the land systems sector’s revenue dropped 10% YoY to $297m. Despite this, the sector’s net profit jumped 45% to $17.6m backed by favourable sales mix.

Also read: ST Engineering profits up 10% to $117.5m in Q2

The firm noted that market conditions continued to drag down its marine sector as it posted a 16% drop in revenue to $137m.

ST Engineering president and CEO Vincent Cheong noted that Q3’s key highlight is the targeted acquisition of the $868m MRA System from General Electric.

“This business will help scale up our aerospace capabilities by moving us upstream into the OEM business of high-value components,” Cheong commented. “We are excited by the role it will play in the growth of our Aerospace sector, and look forward to closing the transaction in Q1 2018.”

The firm’s order book as of September YTD hit $13.3b, of which $1.6b will be delivered in the remaining months of 2018.

In Q2, ST Engineering's profits jumped 10% to $117.5m whilst revenue dipped 3% to $1.65b.

Reaching the people who run Asia's businesses is harder than it used to be.

Inboxes are crowded. Attention is short. The executives you most want to reach — the founders, CFOs, and operators who actually move budgets — are the hardest to find through the usual channels. If you're building a company, a category, or a reputation, you already know this.

We've spent twenty years building the room they read. Singapore Business Review is where senior decision makers in Singapore and across Southeast Asia come for business coverage they can't get elsewhere — in print, online, and in person at the summits and roundtables we host across seven markets.

If you have something these readers should know about — a point of view worth publishing, a product worth their attention, an event worth their time — we'd like to hear what you're trying to do.

Book a meeting

| Or download the media kit (PDF)

240,000 senior readers quarterly in print Top 1,700 Singapore companies reached

7 markets across Southeast Asia