ST Aero Q3 net profit up 3%

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Maintenance, repair and overhaul firm ST Aerospace has reported a 3% increase in net profit to S$59.4 million ($46.3 million) in the third quarter from a year ago.

Turnover for the three months ended 30 September rose 3% to S$487 million from the corresponding period last year, due to higher engine sales and more project completions.

The MRO firm's pre-tax profit fell 2% to S$68.7 million because of an unfavourable sales mix and lower contributions from associated companies, says ST Aero.