ST Engineering H2 Profit Rises 19.6% To S$365.7 Million

ST ENGINEERING on Thursday (Feb 27) reported a net profit of S$365.7 million for the second half ended Dec 31, up 19.6 per cent from S$305.9 million in the previous corresponding period

The defence and engineering group’s revenue rose 9.9 per cent to S$5.8 billion from S$5.2 billion. This was mainly driven by the defence and public security, as well as commercial aerospace segments.

Defence and public security revenue grew 20 per cent to S$2.6 billion from S$2.1 billion, on the back of higher contributions from all sub-segments. Commercial aerospace revenue rose 5 per cent to S$2.2 billion from S$2.1 billion. Meanwhile, revenue from the urban solutions and satellite communications (satcom) business was flat at S$1.04 billion, mainly due to margin mix.

Group earnings before interest and tax grew 17.7 per cent to S$553.5 million from S$470.5 million, driven by the defence and public security, as well as commercial aerospace segments. This was partially offset by the urban solutions and satcom segment.

ST Engineering’s board proposed a final dividend of S$0.05 per share, up from S$0.04 per share in the previous year. The dividend will be paid on May 15, following the record date of Apr 30. This brings the group’s dividend for the full year to S$0.17 per share, slightly higher than S$0.16 per share in FY2023.