Venture Corp's Q1 net profit up 10.1%

SINGAPORE - Contract manufacturing services provider Venture Corp posted a 10.1 per cent rise in first-quarter net profit to S$35.8 million on Thursday (April 28).

The firm said: "Profit improvement for the reported quarter continued to be driven by successful execution on a number of strategic initiatives including the pursuit of operational excellence and value creation."

Revenue for the three months to March 31 inched up 3.6 per cent to S$630.7 million, compared with the same period a year earlier.

Earnings per share for the quarter was 13 cents, up from 11.8 cents a year earlier, while net asset value per share was S$6.821 as at March 31, slightly down from S$6.847 as at Dec 31.

rachaelb@sph.com.sg