ST Aerospace cited “sporadic reduction of work by customers” and “strong competition” as effects of the industry downturn which saw it post a net profi t for the first half of 2009 down 39 per cent year-on-year to S$60.9 million (US$42.5 million). Quarter-on-quarter the result was up 53 per cent on a 9 per cent rise in revenue, in the second quarter, compared to the first. More Boeing 757 freighter conversion redeliveries and completions for its engineering and … [Read more...] about ST Aero sees 39% drop in H1 profit