Singapore, 23 February 2012 – Singapore Technologies Engineering Ltd (ST Engineering) today reported revenue for financial year ended 2011 (FY2011) of $5.99b, compared with $5.98b a year ago. Profit before tax (PBT) registered a 4% growth to $655.2m, while net profit grew steadily by 7% to $527.5m.

In the fourth quarter, Group’s revenue of $1.54b was higher than that achieved in 3Q2011 by 11% or $150m. Except for Marine sector, all sectors recorded higher revenue compared to 3Q2011. Marine sector’s revenue of $91m was 64% or $164m lower, largely due to the reversal of Shipbuilding revenue in 4Q2011 following the Ropax contract termination. Group’s PBT of $184.3m for 4Q2011 was 11% or $18.4m 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 …