Venture Corp's Q4 net profit rises marginally to $38 million

Fourth quarter net profit for electronics manufacturer Venture Corp rose 0.1 per cent to $38 million on the back of a 5.1 per cent rise in revenue to $622.9 million.

It was the highest quarterly revenue registered by the company last year.

Earnings for the 12 months to Dec 31 fell 6.1 per cent to $131.1 million as turnover slid 2.4 per cent to $2.33 billion.

Its weaker full-year performance stemmed from a lower business volume from a few customers. Some of them had been affected by mergers and acquisitions, said Venture Corp on Wednesday.

This was despite the firm's success in clinching new projects from many of its existing customers.

Venture said it expects to "gain traction with several strategic customers, as well as benefit from growing revenue contribution" from new customers it started to work with in recent years.

It will also continue to place emphasis on productivity and working capital management.

Earnings per share stood at 47.7 cents, down from 50.9 cents. Net asset value per share as of Dec 31 last year was $6.65, up from $6.55 a year ago.

Venture proposed a final cash dividend of 50 cents a share. The dividend will be paid out on May 19.

Its shares closed down three cents at $7.36 on Wednesday.

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