Venture Corp profit up 5.5% to $85.2m in Q3

Increased productivity gains and operational efficiency boosted growth.

Venture Corporation posted a 5.5% YoY profit growth to $85.2m in Q3 from $80.79m in 2018, an SGX filing revealed. Its revenue for the same period edged up 12.8% YoY to $869.1m from &770.38m.

The firm’s net profit and revenue was at $266.9m (1.7% YoY) and $2.7b (4.8% YoY), respectively, in 9M 2019.

Its growth was driven by increased productivity gains and operational efficiency, which lead to a net margin of 9.8% for 3Q 2019 and 9.9% for 9M 2019.

In addition, the group recorded 4.1% YoY profit before tax (PBT) growth to $98.6m in Q3 and a 0.5% YoY growth to $310.2m in 9M. Income tax expense of Venture Corp was $13.2m for Q3.

Earnings per share went up to 29.1 cents from 27.8 cents in Q3 2018.

“Over the next 12 months, some uncertainties in the business and geopolitical environment may remain unabated. Venture continues to see some hastened efforts to shift supply chain flows by OEMs for tariff mitigation. The Group does take advantage of these shifts to render support to its partners,” Venture Corp said in a statement.