ST Engineering reports H1 2021 results

Singapore Technologies Engineering Ltd (ST Engineering) has reported group revenue for the first six months was $3.65b, up 2% from $3.57bn a year ago in the same period. Group EBIT was $355.1m, up 13% year-on-year (y-o-y) from $314.1m, while group profit before tax (PBT) grew 19% y-o-y to $339.8m from $286.4m, and first-half group profit attributable to shareholders (net profit) grew 15% to $296.1m from $257.4m. Commercial Aerospace revenue was $1.14b, 10% lower y-o-y from $1.27b as its sub-segments Aerospace MRO and Aerostructure & Systems continued to be impacted by the subdued aviation sector (COVID-19 impact not yet felt in