Venture Q1 net profit up 5.8% to S$32.6m

GLOBAL electronics service provider Venture Corporation posted a 5.8 per cent hike in net profit to S$32.56 million (up from S$30.77 million one year ago) in the first quarter ended March 31, 2015. This came on a revenue of S$608.65 million, up 3 per cent over the year-ago quarter's S$590.98 million.

Earnings per share (EPS) was 11.8 Singapore cents for the quarter, up from 11.2 cents in the year-ago period.

Venture recorded a quarterly profit before tax of S$38.35 million for the quarter, an increase of 13.6 per cent compared to the corresponding quarter of the prior year. Based on tax incentives granted to the company, income tax expense for the quarter was S$5.72 million due to changes in sales mix of tax approved products.