Venture Corp net profit up 72% in Q1

VENTURE Corp has posted a net profit of S$83.7 million for the first quarter, up 72.2 per cent from the same period a year earlier.

Revenue in the three months ended March 31 was S$856 million, up 1.5 per cent from the same period a year earlier, partly weighed down by a weakened US dollar.

Net profit margin was 9.8 per cent, up from 5.8 per cent in the same period last year.

Net cash as at March 31 was S$724.6 million.

First-quarter earnings per share was 28.8 Singapore cents, up from 17.2 Singapore cents last year.

Net asset value per share was S$7.85, up from a restated S$7.61 in the same period last year.

Venture shares fell 3.55 per cent to S$22.57 on Wednesday before the results were released.