Hot stock: ST Engineering gains 4% on strong Q3 revenue showing
SHARES of ST Engineering rose in early trade on Tuesday (Nov 19) after the technology and engineering group reported that its third-quarter revenue was up 14 per cent year on year to S$2.8 billion.
As at 10.21 am, the counter gained as much as S$0.18 or 4 per cent to S$4.63 on a cum-dividend basis, with 4.8 million shares changing hands. It later eased to S$4.58 as at 11.03 am, up S$0.13 or 2.9 per cent.
On Monday morning, ST Engineering reported that its revenue for the first nine months ended September amounted to S$8.3 million or 14 per cent higher than the corresponding period a year earlier, driven mainly by its defence and public security as well as commercial aerospace sectors.
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