Less than a fortnight later, the company announced that revenue for 3QFY2022 ended Sept 30 improved by 22% y-o-y to $2.2 billion. For 9MFY2022, revenue increased by 19% y-o-y to $6.51 billion, with growth seen across all its business segments.
Analysts are mainly positive on Singapore Technologies (ST) Engineering after it announced its first big contracts from Transcore, eight months after its largest-ever acquisition became part of the company. Higher revenue for 3QFY2022 reported in its business update helped as well.
On Nov 15, ST Engineering said its new US-based unit TransCore, which it acquired for US$2.7 billion, won two contracts worth US$1.07 billion ($1.47 billion) to modernise toll collection systems in New Jersey, US.
