ST Engineering pins hopes for growth on strong order book

Its aerospace arm pushed order book to $13.3b.

After its net profit dropped 6% to $103.4m, ST Engineering is seeking relief from its strong order book slated for the next quarters.

According to OCBC Investment Research, earnings will be supported by its strong order book of $13.3b nabbed by its aerospace and electronics sectors in the past quarter.

Meanwhile, the brokerage firm noted three things that can boost the group's yields. Firstly, aerospace sector will be driven by its passenger-to-freighter (PTF) programmes as well as through its exposure to the growing aerospace industry in China.

OCBC Investment Research is also positive on STE’s electronics sector exposure to high growth areas relating to Singapore’s smart nations initiatives and cyber security.

Lastly, ST Engineering's land systems will be driven by involvement in the development of autonomous vehicles for urban transport as well as delivering next generation armoured fighting vehicles for MINDEF from FY19 onwards.

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