ST Engineering posts 14% drop in 2H20 earnings to $264.4 mil on lower revenue, profit

Singapore Technologies Engineering (ST Engineering) has reported a 14% drop in earnings of $264.4 million for the 2HFY2020 ended December, compared to earnings of $308.6 million from the corresponding period the year before.

This brings the group’s FY2020 earnings to $521.8 million, a 9.7% decline from earnings of $577.9 million in FY2019, due to lower revenue and profit before tax (PBT). According to the group, the lower earnings were slightly mitigated by the “non-taxability of the government’s jobs support scheme (JSS)”.

Earnings per share (EPS) for FY2020 stood at 16.64 cents compared to FY2019’s EPS of 18.42 cents.