Venture posts 25% rise in 9M net profit to S$271 million

VENTURE Corporation reported a 24.9 per cent jump in its net profit to S$271.1 million for the first nine months of 2022, on the back of broad-based and diversified growth, the group announced in a bourse filing on Friday (Nov 4).

“All technology domains contributed to the robust year-to-date performance, with lifestyle and wellness, life science and genomics and test and measurement instrumentation technology domains registering the strongest performance,” the filing noted.

Earnings per share were up 25.1 per cent at S$0.932, from S$0.745 in the previous corresponding period. 

Revenue climbed 28 per cent to S$2.82 billion, up from S$2.2 billion previously.

The group maintained a net cash position of S$700.7 million as at Sep 30, 2022.

In its outlook, Venture Corporation said its Malaysian entities delivered the most impressive contributions to its overall performance.

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Venture posts 25% rise in 9M net profit to S$271 million

“Beyond FY2022, the science and technology market segments may continue to see volatility if geopolitical tensions, Covid-19 lockdowns and other headwinds remain unabated,” it added.

Venture shares closed S$0.08 or 0.5 per cent higher at S$16.13 on Friday, before the results were announced.