Venture Q2 profit up 20.3% at S$43.4m

ELECTRONICS services firm Venture Corporation reported net profit of S$43.4 million for its second quarter ended June 30, up 20.3 per cent from S$36.1 million a year ago.

Revenue was up 3.4 per cent to S$683.3 million from S$661 million a year ago.

The company attributed the improved results to "value creation and continued improvements in operational excellence across the group's entire value chain".

Looking ahead, the firm said that business sentiment is anticipated to remain mixed across its customer base. However, the diversity of its customer base "can indeed provide stability and resilience to its long-term overall performance".

Q2 earnings per share rose to 15.7 Singapore cents from 13.1 Singapore cents in the previous year.

Net asset value per share slipped to 643.7 Singapore cents as at June 30, from 684.7 Singapore cents as at six months ago.

No dividend was proposed. Venture shares closed at S$8.90 on Friday, up a cent.