Singapore Stock Market News
ST Engineering - Growth from all engines
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Publish date: Wed, 14 Aug 2013, 11:15 AM
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1H13 net profit was broadly in line at
45% of our and consensus FY13
forecasts. Management has guided for
at least S$2.8bn revenue to be
recognised in 2H13 from the order
book, making up 60-70% of its total
revenue. We up our FY13-15 EPS by
1-2% on higher revenues. We keep
our Outperform rating and target
price, still based on blended
valuations. Catalysts are stronger
margins from aerospace and M&As.
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