ST Engineering today reported revenue for financial year ended 2011 (FY2011) of $5.99 billion, compared with $5.98 billion a year ago.
Profit before tax (PBT) registered a 4% growth to $655.2 million, while net profit grew steadily by 7% to $527.5 million.
In the fourth quarter, group revenue of $1.54 billion was higher than that achieved in 3Q2011 by 11% or $150 million.
Except for Marine sector, all sectors recorded higher revenue compared to 3Q2011. Marine sector’s revenue of $91 million was 64% or $164 million lower, largely due to the reversal of shipbuilding revenue in 4Q2011 following the Ropax contract termination.
Group’s PBT of $184.3 million for 4Q2011 was 11% or $18.4 million higher than that achieved in 3Q2011. Land Systems and Marine sectors reported higher PBT, while Aerospace and Electronics sectors recorded lower PBT.
Compared to 4Q2010, 4Q2011 revenue and PBT were comparable while net profit was higher by 6%.
ST Engineering’s board of directors is proposing a final dividend of 12.50 cents per share, consisting of an ordinary dividend of 4 cents per share and a special dividend of 8.50 cents per share.
Total dividend amounted to 15.50 cents per share, including the interim dividend of 3 cents per share paid out in September 2011.
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