Venture Corp

Contract manufacturing services provider Venture Corp recorded a rise in third-quarter profit on the back of market-share gain among existing customers, contributions from new customers and favourable exchange rates.

Earnings came in at $40.5 million for the three months to Sept 30, up 12.2 per cent over the same quarter a year earlier. Revenue rose 15.7 per cent to $692.9 million, with the test and measurement and medical and life sciences segment recording the largest share.

Earnings per share was 14.7 cents, up from 13.2 cents in the same quarter a year ago, while net asset value per share was $6.92 as at Sept 30, up from $6.78 as at Dec 12.

The company said operating conditions are expected to remain challenging.

President Tan Kian Seng told a results briefing yesterday that the company's ongoing efforts to transform its business have paid off.

Its strategy is to focus on segments where it can create "maximum value", he added. These include parts of the business which give the company opportunities to design products or develop intellectual property.

Perennial Real Estate

Perennial Real Estate Holdings reported a net profit of $4.78 million for the three months to Sept 30, reversing a net loss of $362,000 from the same period a year ago.

Revenue rose from $6.8 million to $22.9 million, with Chijmes and TripleOne Somerset in Singapore and Perennial Jihua Mall, Foshan, and Perennial Qingyang Mall, Chengdu, in China the main contributors.

Earnings per share was 0.29 cent, reversing a loss per share of 0.09 cent a year earlier, while net asset value was $1.727 per share, up from 0.3 cent as at June 30. The current results relate to the real estate development and property management business in Singapore and China while the previous period was for the results of St James relating to the leisure and entertainment business.

Fragrance

Fragrance Group reported a 14.3 per cent rise in net profit to $27.8 million for the third quarter but turnover was down 52 per cent at $64 million in the three months to Sept 30.

The main contributor to revenue was the progressive recognition of income from the projects it is building, including Kensington Square, Urban Vista and Icon@Pasir Panjang.

Earnings per share was unchanged at 0.4 cent while net asset value per share was 14.9 cents, up from 14.6 cents as at Dec 31.