ST Engineering’s net profit grew 9% in FY2012

Singapore Technologies Engineering Ltd (ST Engineering) announced that for financial year ended 31 December 2012 (FY2012), Group revenue achieved a new mark to hit $6.38b, a 6% growth year-on-year as all sectors reported higher revenue except for Land Systems sector which registered comparable revenue.

Profit before tax (PBT) grew 10% to $723.1m, and Net profit after tax (Net Profit) rose 9% to $576.2m compared to the same period last year.

FY2012 revenues for the Aerospace, Electronics and Marine sectors were $2b, $1.6b and $1b respectively, a growth of between 5% and 15%. Revenue of $1.5b for Land Systems sector was comparable year-on-year.

In the fourth quarter ended 31 December 2012 (4Q2012), revenue contribution from all sectors rose between 6% and 28%, resulting in higher Group revenue of $1.7b, a 12% increase over 3Q2012. Compared to 3Q2012, PBT was comparable at $188.5m.

In the financial year, the Group achieved steady growth in its commercial sales with revenue of $4b, which accounted for 63% of Group revenue, compared to 59% a year ago. Revenue mix from the sectors to the Group remained steady, comprising 32% for Aerospace sector, 25% for Electronics sector, 24% for Land Systems sector and 16% for Marine sector.

Source/Photo: ST Engineering