Venture Q3 profit grows 12.2% on favourable market share, exchange rates

VENTURE Corp's net profit rose 12.2 per cent in the third quarter as it gained market share among existing customers and enjoyed favourable exchange rates.

The contract manufacturer's net earnings increased to S$40.5 million, or 14.7 Singapore cents per share, in the three months ended September. For the nine-month period, net profit grew 8.7 per cent to S$109.2 million, or 39.6 Singapore cents.

Revenue increased by 15.7 per cent to S$692.9 million during the quarter as the company gained share among its current customers. Venture said it also added new customers in the period, and benefited from exchange rates moving in a favourable direction.

Venture shares slipped 0.7 per cent, or 6 Singapore cents, to close at S$8.27 on Friday.