ST Engineering’s aerospace division saw profits increase by three per cent to 226.7 million Singapore dollars ($161.5 million) despite the company seeing a slight fall.
ST Aerospace’s profits increased from SIN$220 million and revenue increased by one per cent to just under SIN$2.1 billion. ST Engineering saw revenue fall by three per cent to SIN$6.3 billion and profits dipped by one per cent to SIN$529 million.
ST Aerospace president, Lim Serh Ghee says: “The aerospace sector remained resilient in 2015 and achieved comparable profits despite headwinds. We continue to position ourselves as a total aviation support provider and invest to enhance service offerings to add value to customers globally.”
In 2015, ST Aerospace says it launched the A320/321 passenger to freighter (P2F) conversion programme with Airbus and EFW. It received certification from the US Federal Aviation Administration for the 15-pallet Boeing 757-200SF conversion. For 2016, it has secured a launch customer for the Airbus A330-300P2F.