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ST Engineering Q1 net profit falls 6% but order book fattens

New businesses include a deal to make armored vehicles for the Singapore military

SINGAPORE (Nikkei Markets) - Singapore Technologies Engineering posted a 6% drop in first quarter net profit although orders grew as customers in the aviation sector renewed multi-year contracts.

ST Engineering, whose aerospace arm is one of the world's largest providers of maintenance, repair and overhaul services to the airline industry, said on Friday it earned 103.4 million Singapore dollars ($73.4 million) in the three months ended March, down from S$110.2 million in the same period a year ago.

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