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ST Engineering's Q1 profit grows 9% on-year to S$92.8m
By Travis Teo | Posted: 04 May 2010 1905 hrs
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SINGAPORE: Mainboard-listed ST Engineering has booked a nine percent on-year increase in net profit to nearly S$92.8million in the first quarter of 2010.
The firm attributes the better performance to higher contributions from its key divisions.
Its Aerospace unit was the largest contributor to the company's profit, rising by seven per cent on-year to S$42.7 million.
ST Engineering said this was due to favourable sales mix and lower expenses.
Profit in the electronics division was up 29 per cent to S$28.1 million while the marine sector's profit climbed 17 per cent to S$24.2 million.
Bucking the trend is the Land Systems division which saw a 13 per cent drop in profit to S$22.8 million as a result of higher operating expenses from the subsidiaries it acquired.
Meanwhile, revenue for the period rose three per cent on-year to S$1.36 billion.
Looking ahead, ST Engineering said it expects to achieve a higher revenue this year.
Its order book has also soared to a new high in the quarter. - CNA/vm
Dont miss this one.
Same tactics we are going to deploy. Failure at 3.30, sell the 1/2 bought at the recent entry point.
potential ranging entry point after today's trading. ADX blue and red line reversed, CCI reversed and may climb out of the oversold region. Look set to sell @ 3.00+ again at failure.
Today price action spiked up made me look at the resistance 3.10 mentioned with great potential for a range break out. Looking at the oscillator (for range play) it went into the overbought region but the strength has not make a turn yet.
Anything can happen and since we are here for the profit and not trying to challenge the market force....
Tomorrow we should consider sell 1/2 of your holdings at 2.90 or above (also since its also Friday). The remaining we will keep for more profit (and the coming dividend) if the price action should happen to break out of the range its in. If it does, we will talk about it more on the next resistance at 3.51 in which last two attempts were in APR 2008.
The long term uptrend has diminished since DEC 2009. Its now in a consolidating phase. Consolidating phase means momentum play. Momentum play means looking at oscillator for entry and exit.
Physiological support during this consolidating phase seems to be 3.10 and resistance @ 3.30. Oscillator indicates reversed and at the early stage (value 0) with room still to run.
