The company’s order book stood at $18.2 billion as of end-September, with $1.9 billion expected to be delivered in the remaining months of 2021.
See also: Zixin 1HFY2026 earnings double to RMB16.06 million
ST Engineering says it is on target to achieve $180 million in cost savings for FY2021, which will be partially reinvested in growth areas. In addition, the company noted that regulatory reviews for its proposed acquisition of Transcore are in progress.
ST Engineering highlighted a recovery in its commercial aerospace revenue, with international flights expected to help drive greater maintenance repair and overhaul (MRO) recovery. The company’s capacity utilisation rate stood at 80% in 3Q2021, compared to two-thirds in 1H2021.
See also: OCBC 1HFY2025 net profit falls 6% y-o-y to $3.7 bil
For more stories about where the money flows, click here for our Capital section
Shares in ST Engineering closed flat at $3.81 on Nov 9.
Photo: Albert Chua/The Edge Singapore
