ST Engineering profits up 67% to $128m in Q3

The surge was driven by the payment of a one-off impairment incurred last quarter.

The absence of $61.1m charge incurred last quarter for its specialty vehicle business in China boosted its earnings.

ST Engineering’s profits soared 67% YoY to $128m in Q3 even as revenues remain flat at $1.6b.

According to its financial statement, the surge was driven largely by the payment of a one-off impairment incurred last quarter.

Revenue from the aerospace sector registered 8% growth YoY to $608m whilst revenue from electronics sector posted 6% growth YoY to $495m.

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