ST Engineering said it posted earnings of $67.1 million in the second quarter of FY2012-13, this is $4.1 million or 5.8% lower compared to a year ago (FY2011-12) which included a write-back of tax provision of $3.1 million.
Share of profits from associated and joint venture companies declined by $1.7 million or 4.2% to $38.8 million. The group’s operating profit decreased $2.4 million or 7.1% to $31.6 million. Revenue was $12.1 million or 4.4% higher and expenditure increased $14.5 million or 6.1%. Performance in the current quarter was impacted by an exchange loss of $3.5 million compared to an exchange gain of $7.1 million a year ago.
Basic earnings per share was 6.09 cents for the current quarter. The company has declared a higher interim dividend of 7 cents per share, an increase of 1 cent per share from the previous year.
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