Venture Corp posts 7.5% rise in Q2 profit

Singapore

VENTURE Corp has reported a 7.5 per cent higher second quarter profit of S$36.1 million, or earnings per share of 13.1 Singapore cents, up from 12.2 cents a year ago. This translates to a net margin of 5.5 per cent, down a notch from 5.6 per cent in Q2 2014.

The higher earnings were driven by higher shipment and favourable exchange rate movement. Correspondingly, revenue for the three months ended June 30 rose 10 per cent to S$661 million, year-on-year. Foreign currency exchange gain stood at S$782,000, a reversal of a loss of S$1.21 million previously.