Singapore Technologies Engineering Ltd (ST Engineering) announces its 1Q2016 financial results on 13th May 2016. Revenue was 8% higher in 1Q2016 as compared with 1Q2015 due to higher sales from Aerospace and Electronics sectors. However, net profit after tax (Net profit) for the Group was $110.2m, down 15% from $130.0m as profits from Land Systems and Marine sectors declined. Earning per share fell 15% from 4.17 cents to 3.53 cents.
Revenue from Aerospace and Electronics sector are 27% and 28% higher respectively. Revenue for Land Systems and Marine sector decline by 18% and 24% respectively. Revenue from Marine sector remains weak due to lower demand for ship building from local and U.S. operations.
Order book was $11.5b at the end of March 2016, of which the Group expects to deliver about $3.0b in the remaining months of 2016.
| FINANCIAL HIGHLIGHTS For the first quarter ended 31 March 2016 | 2016 1Q | 2015 1Q | Growth % |
| Revenue ($m) | 1,627 | 1,511 | 8 |
| Earnings before interest and tax (EBIT) ($m) | 97.2 | 110.1 | (12) |
| Other income, net ($m) | 22.1 | 20.8 | 6 |
| Finance (costs)/income, net ($m) | (11.5) | 8.5 | (234) |
| Profit before tax (PBT) ($m) | 130.4 | 150.5 | (13) |
| Profit attributable to shareholders ($m) | 110.2 | 130.0 | (15) |
| Earnings per share (cents) | 3.53 | 4.17 | (15) |
The stock price for ST Engineering closed at S$3.08 today.
Hi SR
Will you be adding more STE? 😀
Already did 😀