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ST Engineering’s Q2 Revenues Stay Flat

Ser Jing - ST Engineering First Quarter Results, Unchanged Revenue and Profit (pic) ST Engineering Limited (SGX: S63) posted a second quarter of 2013 (2Q 2013) revenue of $1.59b, as compared to $1.57b in 2Q 2012, an increase of 1.7%.

Revenues for the various business divisions such as Aerospace, Electronics and Land Systems were at $506m, $354m and $392m respectively. The net profit was at $147.9m, compared with 2Q 2012’s $143.1m.

For the first-half of 2013 (1H 2013), ST Engineering saw a revenue of $3.14b, compared to $3.11b in the same period last year. Net profit was at $281.9m, an increase of 1.6% over 1H 2012.

The company said, “The global business sentiment softened and markets were volatile on fears of the tapering of the US economic stimulus programme and softening Chinese economy. Through this period of uncertainty, Singapore Technologies Engineering Ltd (ST Engineering) maintained a steady business momentum with revenue and earnings performance comparable to that achieved for the same period in 2012.”

The earnings per share stands at 9.11 cents for 1H 2013.

The total borrowing stands at $1.4 billion as of 30 June 2013. The net cash generated from operating activities was $483.5 million for 1H 2013, as compared to $674.9 million in 1H 2012. This was a dip of 28.4%.

For the rest of 2013, the company expects to deliver $2.8 billion out of the order book, which stood at $12.7 billion at end June 2013. The company will pay an interim dividend of 3 Singapore cents per share. The shares closed at $4.29 on results announcement day.

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The information provided is for general information purposes only and is not intended to be personalised investment or financial advice.  Motley Fool Singapore contributor Sudhan P doesn’t own shares in any companies mentioned.