Shares & Derivatives
ST Engineering’s 2023 Core Net Profit Jumped 24% Year-on-Year: 5 Highlights from its Latest Earnings Report
By The Smart Investor  •  March 4, 2024
With the earnings season winding down, one of the last blue-chip stocks to report its 2023 earnings is Singapore Technologies Engineering Ltd (SGX: S63), or STE. The engineering giant pulled off an impressive performance with healthy top and bottom-line growth for last year. The group also paid out a quarterly dividend of S$0.04, bringing 2023’s total dividend to S$0.16, the same as what was paid out the year before. Here are five salient highlights from STE’s latest earnings report that investors should know about.

1. A robust financial performance

2023 saw STE’s revenue rise 11.8% year on year to S$10.1 billion, with revenue growth coming from all three of the group’s segments. Operating profit jumped 24.4% year on year to S$914.7 million but included a divestment loss for Satixfy along with severance costs from the Satellite Communication (Satcom) division. 2022 also saw a pension restructuring gain of S$72 million. Adjusting for these one-off items, STE’s operating profit would have...
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By The Smart Investor
The Smart Investor is co-founded by David Kuo, Joanna Sng, and Chin Hui Leong. The company was formed in late 2019 from the ashes of the Motley Fool Singapore. The Smart Investor believes that everybody can learn how to invest, smartly. We aim to educate people on how to invest smartly by providing investing education, stock commentary and market coverage for Singapore and around the world.
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