ST Aerospace reports 2nd quarter 2016 results

ST Aerospace, a subsidiary of ST Engineering, reported 2nd quarter 2016 results. Revenue for 2Q2016 was US$103m higher compared to that of 2Q2015. This was due to higher revenue in the Component/Engine Repair & Overhaul (CERO) and Engineering & Materials Services (EMS) business groups, reduced partially by lower revenue in the Aircraft Maintenance & Modification /(AMM) business group. Included in the EMS business group was sales from Elbe Flugzeugwerke GmBH (EFW) which became a subsidiary effective January 2016. The current quarter’s PBT of US$74.1m was higher compared to 2Q2015 PBT of US$70.6m. This was a result of of higher gross profit, in line with higher revenue, higher other income reduced partially by higher operating expenses, interest expense and unfavourable foreign exchange impact.