ST Engineering reports steady Q3 results

Singapore Technologies Engineering (ST Engineering) has reported a steady performance for its third quarter ended 30 September 2013. 3Q2013 Group revenue was S$1.55bn compared to the prior year revenue of S$1.54b for the same period. Group profit before tax (PBT) declined 8% year-on-year to S$170.3m and net profit after tax (Net profit) dropped 10% to $131.4m, compared to the same period last year. This quarter saw an impairment charge in the Marine sector of S$23.7m for ROPAX and this was partially offset by write-back of warranty provisions of $14.4m that were no longer required. The Aerospace sector posted comparable revenue