ST Engineering profit up 9% to $146.4m in 3Q12

RELATED QUOTES

SymbolPriceChange
S63.SI3.25-0.02

All sectors except Marine grew revenue.

In a release accompanying its latest results, Singapore Technologies Engineering Ltd (ST Engineering) announced that it turned in a better performance for the third quarter ended 30 September 2012 (3Q2012) over the same period last year.

Group revenue grew 11% or $147m to $1.54b, driven by higher revenue contributions from all sectors except for the Marine sector. Profit before tax (PBT) increased 11% or $18.8m to $184.7m and net profit after tax (Net Profit) grew 9% or $12.6m to $146.4m.

In 3Q2012, the Aerospace sector’s revenue of $505m was higher by 9% or $41m, and its PBT of $85.3m was comparable year-on-year. The Electronics sector’s 3Q2012 PBT was 11% or $3.8m higher at $40.1m on the back of a 10% or $30m increase in revenue to $341m. Compared to the same period last year, the Land Systems sector’s 3Q2012 revenue rose 27% or $84m to $391m, while PBT rose 30% or $4.6m to $19.9m. The Marine sector’s 3Q2012 revenue of $236m was lower by 7% or $19m, while its PBT was comparable year-on-year.

For the nine months ended 30 September 2012, the Group registered a 5% increase in revenue to $4.65b, while PBT and Net Profit rose 14% and 13% respectively to $534.6m and $424.0m, over the same period last year.

“Both the Group Revenue and PBT grew by about 11% and Net Profit improved 9% to $146.4m compared to 3Q2011. The Group registered 5% Revenue growth for 9M2012 over 9M2011. PBT and Net Profit grew stronger at 14% and 13% respectively. The Group’s order book as at end September was a healthy $12.5b," said Tan Pheng Hock, President & CEO, ST Engineering. "Barring unforeseen circumstances, the Group expects to achieve higher Revenue and PBT for FY2012 over FY2011.”

Commercial sales accounted for 65% of 3Q2012 revenue. The Group’s cash and cash equivalents, and short-term investments remained strong at $2.0b. As at the end of September 2012, the Group’s order book stood at $12.5b, of which about $1.4b is expected to be delivered in the fourth quarter.

The Group announced a healthy pipeline of new contracts worth about $1.04b in 3Q2012. The Aerospace sector secured about $692m worth of contracts that included the Maintenance-by-the-Hour support for 75 of AirAsia’s Airbus A320 aircraft over 10 years; the Electronics sector won $166m contracts for its Rail Electronics and Satellite Communications and Sensor solutions; while the Marine sector was awarded $179m contracts in shipbuilding and shiprepair that included two Offshore Support Vessels for Hornbeck Offshore Services. 



More From Singapore Business Review
 
Recent Quotes
Symbol Price Change % Chg 
Your most recently viewed tickers will automatically show up here if you type a ticker in the "Enter symbol/company" at the bottom of this module.
You need to enable your browser cookies to view your most recent quotes.
 
Sign-in to view quotes in your portfolios.

Market Data

  • Currencies
    Currencies
    NamePriceChange% Chg
    1.3582+0.0051+0.38%
    USDSGD=X
    1.5196-0.0071-0.47%
    EURSGD=X
    1.7809-0.0034-0.19%
    GBPSGD=X
    74.6820+0.437+0.59%
    SGDJPY=X
    5.7047-0.0235-0.41%
    SGDHKD=X
    2.9663+0.0023+0.08%
    SGDMYR=X
    9,748.1885-70.3965-0.72%
    SGDIDR=X
    4.9062-0.0141-0.29%
    SGDCNY=X
    1.0263-0.0043-0.42%
    AUDSGD=X
  • Commodities
    Commodities
    NamePriceChange% Chg
    1,324.00-0.60-0.05%
    GCZ16.CMX
    18.63+0.14+0.76%
    SIU16.CMX
    95.80-0.72-0.74%
    ^XAU
    2.080.00+0.10%
    HGU16.CMX
    47.29-0.04-0.08%
    CLV16.NYM
  • Bonds
    Bonds
    TreasuryYield (%)Yield Change
    1.24+0.08
    ^FVX
    1.63+0.06
    ^TNX
    2.30+0.03
    ^TYX

MARKET MOVERS

  • Most Actives
    Most Actives
    NamePriceChange% Chg
    0.129+0.001+0.78%
    N21.SI
    1.855-0.040-2.11%
    MC0.SI
    2.84+0.02+0.71%
    C52.SI
    4.22-0.05-1.17%
    Z74.SI
    0.58-0.01-1.69%
    5TP.SI
  • % Gainers
    % Gainers
    NamePriceChange% Chg
    0.29+0.08+38.10%
    5VI.SI
    0.36+0.07+22.03%
    BPF.SI
    0.192+0.030+18.52%
    AYD.SI
    0.27+0.04+17.39%
    BLU.SI
    0.40+0.05+14.29%
    BFK.SI
  • % Losers
    % Losers
    NamePriceChange% Chg
    0.205-0.055-21.15%
    BTJ.SI
    0.34-0.06-15.00%
    BCD.SI
    0.39-0.06-13.33%
    AYB.SI
    0.31-0.04-11.43%
    5VP.SI
    0.24-0.02-9.43%
    BAZ.SI