ST Engineering posts 18.1% rise in Q1 revenue to $2.7 billion
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ST Engineering 's commercial aerospace revenue was up 32 per cent to $1.2 billion.
ST PHOTO: GIN TAY
Vivienne Tay
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SINGAPORE - ST Engineering posted an 18.1 per cent rise in group revenue to $2.7 billion for the first quarter ended March 31, it said in a business update.
The group attributed the gain to higher contributions from its commercial aerospace as well as defence and public security segments, which recorded double-digit revenue growth.
It has declared an interim dividend of four cents per share for the quarter, payable on June 5 after the record date on May 23.
Commercial aerospace revenue was up 32 per cent to $1.2 billion from $873 million on broad-based growth. Notably, the group’s engine maintenance, repair and overhaul operations registered strong growth.
ST Engineering’s defence and public security unit posted a 14 per cent year-on-year revenue increase to $1.1 billion from $982 million. There was growth in all sub-segments, with the group’s digital business well-positioned to exceed its 2026 revenue target.
In contrast, revenue from its urban solutions and satellite communications (Satcom) segment slipped 1 per cent to $429 million from $434 million in the same period in 2023.
The group obtained $3 billion in new contract wins during the quarter.
Its defence and public security segment recorded the highest contract value at $1.7 billion, followed by its commercial aerospace segment, which bagged $839 million in contracts. The urban solutions and Satcom business, meanwhile, recorded $542 million in new contracts.
ST Engineering shares closed five cents, or 1.26 per cent, higher at $4.03 on May 13. THE BUSINESS TIMES
