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Old 12-08-2016, 07:30 PM   #896
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Join Date: Feb 2013
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ST Engineering Reports Higher Profits in 2Q2016 Vs 2Q2015

“For 2Q2016, Group Revenue and PBT came in at $1,623m and $170.3m respectively. There was an increase of $78m in Group Revenue and $11.8m in PBT over the corresponding quarter in 2015. For 1H2016, Group Revenue was higher than that in 1H2015. The PBT for 1H2016 was comparable to that in 1H2015. The Group completed its divestment of Guizhou Jonyang Kinetics Co., Ltd in the quarter, as part of Land Systems sector's continuous review of its specialty vehicle business in China.

The Group continued to secure new orders and ended the quarter with a healthy order book of $11.6b. The Group’s cash and cash equivalents, including funds under management, stand at $1.3b.

Barring unforeseen circumstances, the Group expects FY2016 Revenue to be higher, but PBT to be lower compared to FY2015. The global economic outlook remains challenging with industry headwinds facing the marine business, the slow-down in the China economy, and negative business sentiment that is prevalent in Europe and other parts of the world.”

- TAN Pheng Hock,
President & CEO, ST Engineering

DPS 5c, 22nd Aug XD, 30th Aug payable
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