Mainboard-listed Singapore Technologies Engineering (ST Engineering) posted a 3.4 per cent rise in net profit to $139.1 million for its third quarter ended Sept 30, from $134.6 million a year ago.
This was on the back of higher revenue for all sectors, and rises in net profits for aerospace and others.
If not for the arbitration outcome for the Hornbeck Offshore Services claim, net profit would have been 12 per cent higher year on year at $150.3 million, the integrated engineering group said in a regulatory filing yesterday. Earnings per share rose to 4.46 cents for the quarter, from 4.32 cents a year ago.
Revenue for the third quarter rose 27.2 per cent to $2.07 billion from $1.63 billion a year ago, with commercial sales contributing 75 per cent, or $1.6 billion, of revenue, and defence sales accounting for 25 per cent, or $500 million.
No dividend was declared for the quarter, unchanged from a year ago.
ST Engineering chief executive Vincent Chong said the group's core business remains strong and its robust order book of $15.9 billion continues to provide revenue visibility for the next few years.
"(Amid) the trade tensions and geopolitical uncertainties which continue to weigh on the global economy, we continue to pursue growth areas, build capabilities and integrate MRAS, Newtec and Glowlink into the group," he added.
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27.2%
Increase in third-quarter revenue to $2.07 billion, from $1.63 billion a year ago. Commercial sales accounted for 75 per cent of revenue, and defence sales accounted for 25 per cent.
ST Engineering shares closed at $4, down 2.91 per cent.
