Singapore Technologies Aerospace (ST Aero) in the second quarter posted a fall in net profit of 20%.
In the three months ending 30 June net profit fell 20% to S$49 million ($34 million) from S$62 million, ST Aero's parent, Singapore Technologies Engineering, says to the Singapore stock exchange.
Turnover grew 1% to S$499 million from S$493 million but cost of sales increased 4% to S$411 million from S$394 million, it says.
Revenue from aircraft maintenance and modification increased 0.2% and engineering and material services revenue rose 39% but component and engine repair and overhaul revenue dropped 7%, it adds.
The company says total revenue for ST Aero will be the same in the second half of this year as the first half and pre-tax profit is expected to be higher in the second half.
Source: Air Transport Intelligence news
