ST Aerospace net profit up 13% in Q1 2012

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Singaporean MRO firm ST Aerospace has posted a net profit of S$51 million ($41 million) in the first quarter of 2012, up by 13% from the same period last year.

Revenue for the three months to 31 March grew by 1% to S$457 million, with profit before tax (PBT) rising by 5% to S$59.8 million.

For its separate divisions, the aircraft maintenance and modification unit posted revenue of S$223 million, down by 3.1%, and PBT of S$41.9 million, up by 12.6%. Its component/engine repair and overhaul unit posted revenue of S$170 million, up by 5.1%, and PBT of S$14.4 million, up by 44.7%. The company's engineering and material services unit posted revenue of S$64.2 million, up by 5.9%, and PBT of S$3.47 million, down by 63.5%.

Looking ahead, the company expects its revenue for the first-half of this year to be comparable to that of the same period last year, while PBT is expected to be higher year on year, barring unforeseen circumstances.