ST Engineering announces Q2 results

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By TESTCustomwebLP TESTCustomwebLP August 13, 2014 19:33

ST Engineering announces Q2 results

Singapore Technologies Engineering Ltd (ST Engineering) announced today that the Group posted quarterly revenue of $1.59bn for the second quarter ended 30th June 2014, which is comparable with the prior year’s revenue in the same period.

ST’s Land Systems sector saw lower revenue due to fewer deliveries in its Automotive business group in the second quarter. The other three sectors – Aerospace, Electronics and Marine registered growth of between 6% and 12% year-on-year.

In Q2 2014, all sectors except for the Electronics sector recorded lower profit before tax (PBT) resulting in a 12% drop in Group PBT to $163.7m from $186.9m in the same period last year.

PBT for the Aerospace sector was 9% lower at $72.9m, Land Systems sector was 46% lower at $18.2m and Marine sector was 31% lower at $24.7m. PBT for the Electronics sector was comparable at $48.2m. Net profit after tax (Net Profit) in Q2 2014 for the Group was $133.2m, representing a 10% decrease from $147.9m in the same period last year.

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By TESTCustomwebLP TESTCustomwebLP August 13, 2014 19:33