- POSTED: 09 May 2014 15:27
- UPDATED: 09 May 2014 20:46
Singapore Technologies Engineering (STEngg) has reported a net profit of S$137.2 million in the first quarter.
SINGAPORE: Singapore Technologies Engineering (STEngg) has reported a net profit of S$137.2 million in the first quarter.
This was up 2 per cent from a year ago, and came despite group revenue staying flat at S$1.55 billion.
STEngg said in a statement that commercial sales accounted for S$965 million, or 62 per cent, of revenue.
The group's order book rose to S$13.4 billion, from S$13.2 billion on 31 December 2013.
In the first quarter, the company won contracts valued at over US$1 billion.
The Aerospace sector won S$460 million worth of contracts. These included a two-year heavy maintenance contract from a major airline, an inaugural maintenance contract from Aircalin, and an extension pilot-training contract from Xiamen Airlines.
Meanwhile, the Electronics sector won S$581 million worth of contracts for its intelligent transportation, satellite and broadband communications, advanced electronics and Information Communications Technologies solutions.
STEngg added that it expects to deliver S$3.3 billion of orders for the rest of 2014.