Venture Q3 profit climbs 7.7% to $35.1m

Singapore

VENTURE Corporation's third-quarter net profit has risen 7.7 per cent year on year to $35.1 million, despite a 3.4 per cent dip in turnover to $588.5 million.

"The industry has not shown signs of strong recovery," said the global provider of technology services, products and solutions yesterday. "In addition, minimum wage levels in low-cost jurisdictions continue to rise. However, the group has been able to mitigate these adverse factors through several strategic thrusts, namely its strong focus on operational excellence, lean manufacturing and productivity improvements. This has resulted in market share gain and customer wins."