Singapore Technologies Engineering's Revenue up 14% in 9m; Shares down 3%

MT Newswires

2024/11/18

Singapore Technologies Engineering's (SGX:S63) revenue for the January till September period was up 14% to SG$8.3 million from SG$7.3 million a year earlier, according to a filing with the Singapore Exchange on Monday.

The increase in revenue was driven by a 14% increase in revenue from the Defense and Public Security segment and a 16% rise in revenue from the Commercial Aerospace division.

During the period, the engineering services company secured new contracts worth SG$8.3 billion, taking the order book to SG$26.9 billion as at Sept. 30.

Shares of the company were down nearly 3% in recent trading.

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