ST Engineering H2 operating profit up 22.5% to S$448 million; earnings down 83.6% if one-off items included
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Reported profit fell to S$59.9 million after adjusting for divestment gains and one-off impairment losses
[SINGAPORE] ST Engineering on Friday (Feb 27) reported a net profit of S$59.9 million for H2 FY2025, an 83.6 per cent decline from S$381 million a year prior.
This figure includes gains on divestments as well as shareholding interests in CityCab, SPTel and Starco, and one-off impairment losses related to iDirect group and Jet-Talk.
Its operating profit for the second half ended Dec 31, however, stood at S$448 million, an increase of 22.5 per cent from S$365.7 million a year before.
Revenue stood at S$6.4 billion in H2 FY2025, up S$5.8 billion from the same year-ago period.
The board has proposed a final dividend of S$0.06 per share and a special dividend of S$0.05 per share, subject to shareholder approval at the annual general meeting on Apr 23.
Including the interim dividend of S$0.12 per share, this will bring the full-year dividend to S$0.23 per share.
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Earnings per share for FY2025 stood at S$0.1484.
Cost of sales also widened during the period to S$5.4 billion, up 16.5 per cent year on year from S$4.6 billion.
Looking ahead, supported by strong growth momentum and a robust order book, the group is “well positioned” to deliver on its strategic objectives and 2029 targets, said Vincent Chong, group president and chief executive officer.
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The counter ended Thursday 2.1 per cent or S$0.21 lower at S$10.02 prior to the results release.
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