ST Engineering net profit up 15% to $296.1m

The company secured $3.37b worth of new contracts for the first half of 2021.

Singapore Technologies Engineering (ST Engineering) reported a net profit of $295.1m for the first half of 2021, 15% higher than the same period last year.

This was driven by the better operating performance of its Urban Solutions and Satcom and Defence and Public Security segments, which offset the losses from its Commercial Aerospace segment.

“We delivered a good set of results for the first half of 2021 amidst a challenging operating environment. We had also secured contract wins across our businesses that led to a robust order book, which continues to provide revenue visibility in the periods ahead,” said Group President and CEO Vincent Chong in a bourse disclosure.

In the second quarter of 2021, ST Engineering secured $1.82b of new contracts: $874m for commercial aerospace, $284m for urban solutions and Satcom, and $660m for Defence and Public Security. This is in addition to the $1.55b announced for the first quarter.

Follow the link for more news on

ST Engineering

Financial Statements

Also Read

Institution of Engineers sets up new board to promote faster chartership registration

Hanwha raises offer to $0.67 to acquire full control of Dyna-Mac Holdings

Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!

I want to download the media kit