SINGAPORE (Aug 11): ST Engineering reported 12% lower 2Q17 earnings of $111.5 million compared to $127.3 million in 2Q16, impacted by the weak marine sector.
Group revenue for 2Q17 ended June came in 8% higher at $1.76 billion compared to $1.62 billion in the same period last year.
Group quarterly Profit before tax (PBT) fell 12% to $149.8 million from $170.3 million, mainly due to an $8.1 million loss from the marine sector impacted by weak industry conditions and its US operations.
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