Monday, November 7, 2011

Singapore Technologies 3Q profit up

MOBILE, Ala. – Singapore Technologies Engineering Inc., which employs more than 3,000 in South Alabama and Mississippi through its aerospace and marine subsidiaries, boosted third quarter profit this year despite a decline in sales. ST Engineering owns ST Aerospace Mobile at Brookley Aeroplex and VT Halter Marine shipyards in Mississippi’s Pascagoula, Moss Point and Escatawpa. ST Engineering earned profit of $105 million in the three months that ended Sept. 30, up from a year ago. That came despite overall revenue falling 6 percent in the quarter. The aerospace division saw revenue fall about 4 percent, but operating profit rose 18 percent. (Source: Mobile Press Register, 11/04/11)