Venture’s net profit up 6.6% to $139.8m in FY14

Thanks to changes in tax incentives for its subsidiaries.

Mainboard-listed Venture Corporation reported that its net profit climbed 6.6% to $139.8m in FY14, on back of various changes in tax incentives granted to its subsidiaries.

The group’s profit before tax increased 11.8% to $156.5m, while revenue grew 5.8% year-on-year to $2.5b.

All product segments except for Computer Peripherals & Data Storage registered revenue growth year-on-year with the Test & Measurement/Medical & Life Science/Others segment recording the highest revenue improvement.

According to CIMB, Venture has enough experience and customer diversification to sail through current concerns over the pace of economic development in Europe and Asia.

“While its peers pursue volume growth, compete on cost and pray for favourable exchange rates, Venture has consistently been managed with growing excellence via higher capabilities, innovation and better productivity. Barring major turmoil in Europe, we believe that earnings growth is set to resume for Venture,” stated CIMB.