Latest news with #Terrex
Business Times
3 days ago
- Business
- Business Times
ST Engineering H1 earnings up 19.7% at S$402.8 million on back of defence demand in Europe, Middle East
[SINGAPORE] Singapore Technologies Engineering (ST Engineering) on Thursday (Aug 14) posted a 19.7 per cent increase in net profit to S$402.8 million for the first half-year ended June, up from S$336.5 million in the year-ago period. This was driven by revenue growth, primarily from its commercial aerospace, and also its defence and public-security business segments, despite negative impact from foreign currency exchange and the US tariffs. Earnings per share rose in tandem to S$0.1293 for H1, up from S$0.108 previously. H1 revenue grew 7.2 per cent to S$5.9 billion, up from S$5.5 billion in the first half of the year before. BTVISUAL ST Engineering said H1 revenue would have grown 8 per cent if not for the impact of a weaker US dollar against the Singapore dollar on forex translation; the impact of forex translation on net profit was, however, negligible. Revenue from the commercial aerospace segment rose 5 per cent to S$2.4 billion from S$2.2 billion. The group said the overall impact of the tariffs on its first-half results was immaterial after mitigation measures were implemented. BT in your inbox Start and end each day with the latest news stories and analyses delivered straight to your inbox. Sign Up Sign Up Revenue from the defence and public security segment grew 12 per cent to S$2.7 billion from S$2.4 billion; that for the urban solutions and satellite communications segment was flat at S$921 million. The group secured S$9.1 billion in new contracts for H1, which brought its total order book to S$31.2 billion as at end-June. It expects to deliver about S$5 billion from the order book in the remainder of 2025. ST Engineering group president and chief executive Vincent Chong said: 'Our strong order book continues to provide revenue visibility for the group. 'Our recent divestments are in line with our portfolio rationalisation strategy to exit non-core businesses and recycle capital. We remain steadfast in strengthening our core businesses.' ST Engineering declared an interim dividend of S$0.04 per share for Q2 – unchanged from the previous year's payout – to be paid on Sep 5. Growing defence revenue Mervyn Tan, group chief operating officer for technology and innovation and president of defence and public security, noted the contribution by international defence business to the strong results. Crediting the performance to the local and international partnerships the group has built, he added that because of Singapore's small size, there is a need to scale the products beyond the Republic, so that non-recurring engineering and fixed costs can be shared. 'The local customers will ... enjoy a reduction in terms of cost per unit,' he said. Tan said that potential business opportunities for the 8x8 Terrex and Bronco All-Terrain Tracked Carrier – which are armoured vehicles – have arisen in Europe and the Middle East. He also expressed confidence that the sale of ammunition, namely the 40 mm and 155 mm, would continue into the second half as well. 'There's simply a demand for such products in the market, especially in the Middle East and Europe,' he said. Beyond ammunition and defence hardware, ST Engineering is also seeking to expand on its maintenance, repair and overhaul (MRO) services. Tan singled out the Middle Eastern and North African market as an area to watch, but added that doing MRO in those regions is not new to the company. Beyond undertaking MRO for aircraft, ST Engineering is looking for MRO opportunities for land vehicles in the Middle East. 'I think we have built a strong foundation in terms of our technical competencies,' he said. Shares of ST Engineering closed 6.25 per cent or S$0.56 lower at S$8.40 on Thursday.
Business Times
3 days ago
- Business
- Business Times
ST Engineering H1 earnings up 19.7% at S$402.8 million, cites defence demand in Europe, Middle East
[SINGAPORE] Singapore Technologies Engineering (ST Engineering) on Thursday (Aug 14) posted a 19.7 per cent increase in net profit to S$402.8 million for the first half-year ended June, up from S$336.5 million in the year-ago period. This was driven by revenue growth primarily from its commercial aerospace and defence and public security business segments, despite negative impact from foreign currency exchange and US tariffs. Earnings per share rose in tandem to S$0.1293 for H1, up from S$0.108 previously. H1 revenue increased 7.2 per cent to S$5.9 billion, up from S$5.5 billion in the first half the year before. ST Engineering said H1 revenue would have grown 8 per cent if not for the forex translation impact of a weaker US dollar against the Singapore dollar, while the forex translation impact on net profit was negligible. Revenue from the commercial aerospace segment rose 5 per cent to S$2.4 billion from S$2.2 billion. The group said overall tariff impact on its first-half results was immaterial after mitigation measures were implemented. BT in your inbox Start and end each day with the latest news stories and analyses delivered straight to your inbox. Sign Up Sign Up Defence and public security revenue grew 12 per cent to S$2.7 billion from S$2.4 billion, while urban solutions and satellite communications revenue was flat at S$921 million. The group secured S$9.1 billion of new contracts for H1, bringing its total order book to S$31.2 billion as at end-June. It expects to deliver about S$5 billion from the order book in the remainder of 2025. ST Engineering group president and chief executive Vincent Chong said: 'Our strong order book continues to provide revenue visibility for the group. 'Our recent divestments are in line with our portfolio rationalisation strategy to exit non-core businesses and recycle capital. We remain steadfast in strengthening our core businesses.' ST Engineering has declared an interim dividend of S$0.04 per share for Q2, to be paid on Sep 5, unchanged from the previous year's payout. Growing defence revenue Mervyn Tan, group chief operating officer for technology and innovation and president of defence and public security, noted that ST Engineering's international defence business had contributed to the strong results. This, he said, is due to the local and international partnerships the group has built. Tan added that because of Singapore's small size, there is a need to scale the products beyond the Republic, so that the non-recurring engineering and fixed cost can be shared. 'The local customers will ... enjoy a reduction in terms of the cost per unit,' he said. Tan said that they have several platform opportunities in Europe and the Middle East. He shared that they are the 8x8 Terrex and Bronco All Terrain Tracked Carrier. He said that they are confident the sales of ammunition, namely the 40 mm and 155 mm, will continue into the second half as well. 'There's simply a demand for such products in the market, especially in the Middle East and Europe,' he said. Beyond ammunition and platforms, ST Engineering is also seeking to expand on their maintenance, repair and overhaul (MRO) services on what they have established previously. Tan singled out the Middle Eastern and North African market as an area to watch for, but added that doing MRO at these regions is not new to the company. Beyond aircraft, ST Engineering is looking for MRO opportunities for land vehicles in the Middle East. 'I think we have built a strong foundation in terms of our technical competencies,' he said. Shares of ST Engineering closed 6.25 per cent or S$0.56 lower at S$8.40 on Thursday.
Yahoo
29-03-2025
- Lifestyle
- Yahoo
11 Casual Hiking Sneaker You Can Wear Whenever You Want
"Hearst Magazines and Yahoo may earn commission or revenue on some items through these links." Wearing waterproof, grippy hiking sneakers for rainy days has been my long-term shoe hack. I'll wear a rain boot if I must. That's to say I'll do it if it's coming down hard, and I need protection as high up as it can go. I'll wear a snow boot when it's actually snowing and a hiking boot when I'm actually hiking. But if I'm just going to work? Grabbing lunch? Want to wear a normal outfit and shoes? A sneaker built for tougher terrain is where it's at. I invite you to do the same. Thanks to the cultural movement gorpcore (it's not dead TikTok and high-fashion just moved on), brands are making hiking sneakers that look cool in urban environments. Salomon's XT-6 were the original example. But now you have the Adidas Terrex line, an new model from Arc'teryx, and all sorts of cottage outdoors-fashion options. No matter where you pick from, one of these 11 best hiking sneakers will serve you outdoor Terrex line made this Skychaser, a lightweight, low-profile sneaker that you can be certain we'd wear with a hoodie and favorite pair of wider leg pants on a rainy day. The GORE-TEX membrane won't steer you wrong in terms of moisture repellancy. $160.00 at fashion eyes have been Arc'teryx lately, but the brand keeps its head down and does what it does best: great outdoor gear. These sneakers are more streamlined than a lot of outdoor sneakers tend to be, with lower cushioning and a snug-fitting upper. $170.00 at Pegasus sneaker is a favorite for all types of runners, and the Gore-Tex version is great for running in wet weather as well as just walking in it. These are a favorite for rainy day athleisure outfits. $170.00 at Stinson brings that beloved Hoka cushion into a sneaker that has a ton of grip, thanks to the multi-directional lugs. They have a great balance of softness and traction, though they aren't waterproof. $170.00 at someone asks for a stylish hiking anything, I'm sending them to Diemme. These are a sneaker-y version of the brand's classic boot, done up in a wax-coated, water-resistant leather. If the traditional hiking sneaker is too casual for you, this is an excellent upgrade. $470.00 at XT-6 just keeps on delivering. They're lightweight, waterproof, and have an easy quick-lace design. "The XT-6 is built for performance, sure, but it also happens to be built to downright electrify your vibe," says our style director, Jonathan Evans. "Taken out of the context of trail running, it becomes a piece that can work with any fit, whether your personal style leans more low-key (try it with washed-out jeans, a boxy tee, and a light jacket for an advanced riff on normcore) or more fashion-forward (cropped black trousers, a crisp white shirt, and an oversized black blazer sounds just right)." $180.00 at Trailgrip sneaker is the absolute pinnacle of function and fashion. They are actually quite functional, with a dramatic, lugged Vibram outsole and water-repellent mesh. But the chunky design and suede strips are signature Moncler. $750.00 at Cloudrock sneakers are super comfortable and totally waterproof. They're great for wearing to the gym, on errands, or actually on a trail. We particularly like the protective toe cap and TPU mudguard. $179.99 at North Face's Glenclyffe sneaker is a great alternative to other hype-y, gorpcore shoes. These are stylish with the contrasting protective mudguard but they have flown mostly under the radar. $135.00 at I were to buy a single casual hiking sneaker and not want to buy another for years to come, it'd be Canada Goose's Glacier. The brand has a minimal shoe department, but we like what they make. These are virtually indestructible: waterproof, treaded rubber outsole, cord-lock drawstring. They're breathable enough to wear year round but, like any Canada Goose item, can most certainly survive winter, ice, and snow. $450.00 at the true trail sneakers just aren't hitting for you, we love Danner's low shoes as a kind of sneaker-boot hybrid. They are super comfortable, durable, and feel more substantial than something like a waterproof running sneaker. Of course, if you're looking for a boot boot, the Danner Mountain Light is an ongoing favorite. $140.00 at You Might Also Like Kid Cudi Is All Right 16 Best Shoe Organizers For Storing and Displaying Your Kicks
