ST Engineering Records 9MFY2024 Revenue of $8.3 Billion, Up 14% y-o-y

TigerNews_SG
11-18

Singapore Technologies Engineering says it has increased its revenue by 14% y-o-y to $8.3 billion for its 9MFY2024 ended September 30.

The jump was led by "significant" 3QFY2024 growth in its defence and public sector segment. In the 9MFY2024, this market segment recorded 18% y-o-y higher revenue growth, reaching $.3.6 billion, says the company in its 3QYF2024 business update.

Its commercial aerospace segment generated "good" y-o-y revenue growth as well that is 16% higher in 9MFY2024, reaching $3.3 billion.

Meanwhile, another key segment, urban solutions and satellite communications hardly budged with 9MFY2024 revenue that was merely 0.3% more y-o-y. While the urban solutions sub-segment recorded growth, it was offset by further declines in satellite communications.

Within 3QFY2024, the company secured $2.2 billion in new contracts, bringing 9MFY2024 wins to $8.3 billion, and the total order book to $26.9 billion.

The company plans to maintain its quarterly dividend payout of 4 cents per share, which will go ex on Nov 26 and be paid on Dec 10.

ST Engineering shares closed at $4.71 on Nov 15, up 0.21% for the day and up more than a fifth year to date.

$(S63.SI)$

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  • KienBoon
    ·11-18
    Hi. Isn't it good news for ST Engineering ? How come it drops almost 5% ? Moreover dividend is maintained at 4c which is quite consistent for the past many many quarters. Does anyone know what's going on ? It is really strange sentiment and expectations on it. Thought it should up 20cents instead !!! [Speechless] [Speechless] [Speechless]
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