230FINANCIAL HIGHLIGHTS2007 2006 2005 2004 2003$’000 $’000 $’000 $’000 $’000Turnover 1,188,317 1,013,899 604,647 594,300 717,711Profit before tax 80,003 69,971 65,010 71,549 96,458Profit after tax and minority interests 70,789 51,926 48,997 58,066 76,538Shareholders’ funds 110,179 110,954 173,597 164,471 183,807Total assets 1,395,284 1,252,835 1,004,039 883,498 1,014,346Net tangible assets (133,049) (149,891) 115,058 149,890 168,841Return on sales (%) 6.1 5.3 8.1 9.5 10.4Earnings per share (cents) 58.71 43.07 40.64 48.16 63.48Return on equity (%) 27.6 20.2 22.9 34.9 41.3Return on total assets (%) 5.2 4.3 4.9 6 .4 7.3Net tangible assets per share (cents) (110.4) (124.3) 95.4 124.3 140.0Productivity dataAverage staff strength (number) 5,299 4,961 3,417 2,389 2,483Sales per employee ($) 224,253 204,374 176,953 248,765 289,050Profit after tax per employee ($) 13,359 10,467 14,339 24,306 30,825Employment costs 259,424 224,828 125,030 117,116 135,417Employment costs per $ of turnover ($) 0.22 0.22 0.21 0.20 0.19Economic Value Added 50,593 32,994 34,087 34,821 62,799Economic Value Added spread (%) 8.8 6.8 12.0 11.3 18.2Economic Value Added per employee ($) 9,548 6,651 9,976 14,576 25,292Value added 371,647 325,057 202,374 197,304 258,027Value added per employee ($) 70,135 65,522 59,226 82,589 103,917Value added per $ of employment costs ($) 1.43 1.45 1.62 1.68 1.91Value added per $ of gross property,plant and equipment ($) 1.01 0.96 0.62 0.66 0.84Value added per $ of turnover ($) 0.31 0.32 0.33 0.33 0.36
<strong>Singapore</strong> <strong>Technologies</strong> <strong>Engineering</strong> LtdAnnual Report 2007 231STATEMENT OF PROFIT AND LOSS2007 2006$’000 $’000Turnover 864,594 702,868Cost of sales (757,254) (602,581)Gross profit 107,340 100,287Other operating income 25,898 13,851Distribution and selling expenses (3,733) (5,532)Administration expenses (24,211) (20,067)Other operating expenses (6,188) (6,341)Profit from continuing operations before taxation,other income and financial expenses 99,106 82,198Other income, net 845 481Financial expenses (3,430) (3,519)96,521 79,160Share of results of associated companies and joint ventures 46 340Profit from continuing operations before taxation 96,567 79,500Taxation (21,303) (11,677)Profit from continuing operations after taxation 75,264 67,823Attributable to:Shareholder of the Company 75,264 67,823Minority interests – –75,264 67,823
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18Group turnover, PBT and PATMI ros
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202007 2006 2005 2004 2003Sharehold
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22FY 07FY 06FY 05FY 04FY 03388.8327
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56 Group Overview57 Entering a New
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66ILLUSTRATION STYLEIllustrated by
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68ST Aerospace broke ground for STA
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70ILLUSTRATION STYLEIllustrated by
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72Digital animation projects fuelST
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78Illustrated by Don Low
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80(from left to right)Delivery of t
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84i) Interest Rate RiskThe Group ha
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86Total Shareholder Return forST En
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88PROSPECTS FOR 2008The world econo
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90We, the undersigned directors, on
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92DIRECTORS’ INTERESTS IN SHARES
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94DIRECTORS’ INTERESTS IN SHARES
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96DIRECTORS’ INTERESTS IN SHARES
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102AUDIT COMMITTEEThe Audit Committ
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106GroupNote 2007 2006$’000 $’0
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1102007 2006$’000 $’000(Restate
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17210. INVESTMENTSGroupNote 2007 20
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