Its commercial aerospace segment generated "good" y-o-y revenue growth as well, 16% higher y-o-y in 9MFY2024, reaching $3.3 billion.
Meanwhile, another key segment, urban solutions and satellite communications hardly budged with 9MFY2024 revenue that was merely 0.3% more y-o-y. While the urban solutions sub-segment recorded growth, it was offset by further declines in satellite communications.
Within 3QFY2024, the company secured $2.2 billion in new contracts, bringing 9MFY2024 wins to $8.3 billion, and the total order book to $26.9 billion.
The company plans to maintain its quarterly dividend payout of 4 cents per share, which will go ex on Nov 26 and be paid on Dec 10.
See also: ASL Marine reports earnings of $20.4 mil for 1QFY2026 up 13.3% y-o-y
The 3QFY2024 updates were in line with expectations of DBS Group Research, which has maintained its "buy" call and target price of $5 following the annuncement.
ST Engineering shares closed at $4.71 on Nov 15, up 0.21% for the day and up more than a fifth year to date.
