ST Aerospace's third quarter 2009 profits show a 15% improvement over the second quarter of the year, though this figure still lags slightly behind third-quarter 2008 results. The Singapore Technologies Engineering subsidiary reports SING70.2 million in profits before tax for the quarter ended Sept. 30, compared to SING72.7 million for the same period last year.

Company performance over the quarter reveals a geographic variable. While ST Aero's businesses in Asia report 13.7% improved revenue compared to the third quarter of last year, its U.S. businesses experienced a 23.7% decline and its Europe businesses a 15.7% decline.

This comes in line with the company's operating units. ST Aero's engineering and materials services (EMS) group, based mainly in Asia-Pacific, saw a 63.4% improvement in turnover in the third quarter of this year compared to the same period last year, while its aircraft maintenance and modification (AMM) and component/engine repair and overhaul (CERO) segments experienced a decline in turnover.

ST Aero attributes the higher revenue in its EMS group to more project milestone completions, and it notes that the redelivery of the first multi-role 757-200 aircraft to the Royal New Zealand Air Force during the third quarter of last year boosted its results for that period. It also says that it saw reduced component service sales and less engine work during the last quarter.

Photo credit: ST Aerospace