ST Engineering revenues up 3%, profits also up in 1Q2010

Singapore Technologies Engineering Ltd (ST Engineering) reports (04-May-2010) the following financial highlights for the three months ended 31-Mar-2010;

• Revenue: USD985.5 million, +3.2% year-on-year;
  • Aerospace: USD321.7 million, +3%;
• PBT: USD84.5 million, +5%;
  • Aerospace: USD30.9 million, +7%;
• EBIT: USD80.4 million, +25%;
• Net profit: USD67.2 million, +9%;
• Order backlog: USD8,551 million. [more]

*Based on the conversion rate at USD1 = SGD1.38

ST Engineering: "Barring unforeseen circumstances, the Group expects to achieve a comparable turnover and higher PBT in 1H2010 compared to those of 1H2009. The Group expects to achieve a higher turnover and PBT in FY2010 compared to those of FY2009. For the Aerospace and Electronics sectors, 1H2010 turnover is expected to be comparable, while PBT is expected to be higher than that of 1H2009," Company statement. Source: ST Engineering, 04-May-2010.