Venture Corp net profit up 20% in Q2

SINGAPORE - Contract manufacturing services provider Venture Corp has posted a net profit of S$43.4 million in the second quarter, up 20.3 per cent from the same period a year ago.

Revenue in the three months ended June 30 climbed 3.4 per cent to S$683 million.

Research and development expenses - which comprised prototyping related tooling and services - fell 28.7 per cent to S$6.2 million due to lower customers' requirements, the group said.

Second quarter earnings per share was 15.7 cents, up from 13.1 cents a year ago.

Net asset value per share was 643.7 cents as at June 30, down from 684.7 cents as at Dec 31. Earnings were announced after market close. The counter closed up a cent at S$8.90 on Friday.