SINGAPORE - ST Engineering on Friday reported a 9 per cent increase in revenue to $2.4 billion for the third quarter ended September, from $2.2 billion a year prior.
It also proposed a third-quarter interim dividend of four cents per share to be paid on Dec 1. This would bring its dividends to date to 12 cents per share, after a first-quarter and second-quarter dividend of four cents each.
For the nine months ended September, ST Engineering’s revenue stood at $7.3 billion, or 12 per cent higher than the $6.5 billion in the same period a year ago. This was mainly driven by the group’s commercial aerospace segment, which reported a 30 per cent increase in contributions to $2.8 billion, from $2.2 billion in the year-ago period.
Contributions from the urban solutions and satellite segment rose 13 per cent on the year to $1.4 billion from $1.2 billion.
Defence and public security revenue was down 1 per cent to $3.09 billion, from $3.12 billion the previous year. Lower contributions from this segment were due to the absence of revenue from the United States marine business, which was divested in the fourth quarter of financial year 2022.
ST Engineering said revenue in defence and public security would have grown 6 per cent, excluding the US marine business.
As at end-September, the group’s order book stood at $27.5 billion, or up 20 per cent year on year from $23 billion, of which $11.7 billion are new contracts for the period under review.
About $2.5 billion from this year’s order book is expected to be delivered in the remaining months of 2023.
Shares of ST Engineering closed on Thursday up three cents, or 0.8 per cent higher, at $3.82. THE BUSINESS TIMES
