Singapore Technologies Engineering has achieved higher year-on-year revenue and net profit for its first quarter 2018 (1Q2018). Group revenue was 9% higher at SG$1.65bn compared to $1.51bn in the same period last year, and its profit Attributable to Shareholders (net profit) improved 18% to SG$117.7m from SG$99.9m a year ago.
At the business sector level, the Aerospace sector posted revenue of SG$599m, up 9% from SG$548m the year before. Its net profit was 6% higher at SG$59.2m compared to SG$56.1m a year ago.
Commercial sales and defence sales in the first quarter constituted 63% or SG$1.0bn, and 37% or SG$0.6bn respectively of the Group’s revenue. Cash and cash equivalents including funds under management remained healthy at SG$1.6bn as at March 31, 2018.
The Aerospace sector announced SG$510m worth of new orders for services ranging from airframe heavy maintenance support, cabin interior reconfiguration to contracts for EcoPower® engine wash services.
