[SINGAPORE] Shares of ST Engineering jumped as much as 4.2 per cent on Thursday (Nov 13) after an increase in its nine-month revenue.
The counter climbed S$0.35 to S$8.64 as at 9.13 am, after it reported on Wednesday a 9 per cent rise in revenue to S$9.1 billion for the nine months ended Sep 30.
ST Engineering’s shares had closed at S$8.29 before the results were announced.
The group had strong performances across all its three business segments, with the revenue increasing despite an impairment of S$667 million for iDirect Group, its satellite communications technology subsidiary.
The company also proposed a special dividend of S$0.05 per share in light of cash proceeds from recent divestments.
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