ST Engineering shares hit new high on record results

ST Engineering shares reached yet another record on Feb 28 after a string of new highs in recent weeks, with analysts saying the stock could head even higher if the company continues to perform well.

- Kang Wan Chern

The shares closed up 3 per cent at $5.41 after the firm reported record revenue, earnings and order book levels on Feb 27.

Turnover came in at $11.28 billion for the 12 months to Dec 31, 2024—12 per cent up on the $10.1 billion recorded in 2023. Net profit surged as well, rising 20 per cent to $702 million compared with $586 million in the previous year.

Chief executive Vincent Chong told a results briefing on Feb 28 that the company has already met its 2026 revenue target, given current turnover levels.

All three of its business segments contributed to the bumper 2024 result, with its commercial aerospace division leading growth. The other two segments are defence and public security, and urban solutions and satellite communications.