Venture Corp FY2020 net profit fell 18.1% to $297.3m

Its revenue declined 17.1% to $3b for the same period.

Venture Corp has posted a net profit of $297.3m, down 18.1% YoY from $363.1m the previous year, the company announced.

Its revenue also declined by 17.1% YoY from $3.6b to $3b during the same period.

“The group’s results reflected the steady recovery from the various disruptions caused by the global COVID-19 pandemic,” it said in a press release.

For the full year, earnings per share was at 102.2 Singapore cents, down from 125.3 Singapore cents a year ago.

Venture Corp aims to scale up its participation and contribution in photonics, networking and communications, and advanced semiconductor-related equipment domains to create new value and capture opportunities in the battery electric vehicle industry, as well as the robotics, automation, and artificial intelligence domains.

“Tapping on technological advancements, we will continue to improve our operational excellence through higher productivity and better management of our global supply chain,” the group said.