Venture's Q2 profit climbs 7.5%

VENTURE Corporation Limited on Wednesday posted a 7.5 per cent rise in its second quarter net profit to S$36.1 million, boosted by higher shipments and favourable exchange rate movements.

For the first half of the year, the group net profit rose 6.7 per cent year-on-year to S$68.6 million.

Earnings per share for the quarter was 13.1 Singapore cents, up from 12.2 cents in the year-ago period.

Revenue for the three months ended June 30 was up 10 per cent to S$661 million.

For the first six months of the year, revenue rose 6.5 per cent to S$1.27 billion.

In its outlook, the company said the economic landscape which its customers operate in "remains challenging with elements of uncertainty".

It said this is reflected in the generally cautious outlook of its customers.

"The group remains focused on sustaining operational excellence and driving innovation; and continues to strengthen its strategic capabilities and competencies in several domain areas and market verticals."