ST Engineering Q2 earnings up 18% to S$138.2m

MAINBOARD-LISTED Singapore Technologies Engineering on Wednesday posted an 18 per cent rise in second-quarter net profit to S$138.2 million for the three months ended June 30, up from S$117.5 million a year ago, on the back of higher earnings from its marine sector.

Earnings per share for the quarter came in at 4.43 Singapore cents, versus 3.77 cents for the preceding year. Revenue for the quarter also rose 8 per cent to S$1.78 billion, thanks to its Aerospace sector, with newly acquired MRAS as the main contributor. The group's board has approved an interim dividend of five Singapore cents per ordinary share, unchanged from last year, and the dividend payment will be made on Sept 3, 2019, ST Engineering said.For the six months ended June 30, net profit rose 14 per cent to S$269.3 million from S$235.2 million a year ago. Revenue also increased 6 per cent S$3.51 billion, up from S$3.30 billion for the same period last year.

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