ST Engineering posts modest rise in Q2 net profit to $148 million

ST Engineering posted a 3 per cent increase in second quarter net profit to $147.9 million from a year ago.

This was achieved on the back of a 2 per cent increase in revenue to $1.59 billion with commercial sales making up 62 per centor $1.0 billion of total revenue.

Revenue from aerospace, electronics and land systems businesses were comparable to that achieved in the previous corresponding period. The marine business saw a 12 per cent increase in revenue mainly due to higher shipbuilding activities from the local operation.

As at end June 2013, the firm had an order book of $12.7 billion, of which about $2.8 billion is expected to be delivered in the second half of 2013.