SINGAPORE (April 28): Venture Corporation saw earnings grow 35.6% to $48.6 million in the first quarter ended March 31, from $35.8 million a year ago.
Revenue rose 33.7% to $843.1 million in 1Q, from $630.7 million in the corresponding quarter last year.
The increase in revenue was mainly attributed to Venture Corp’s diversified customer base, as well as new product and programme introduction by several customers.
“Revenue growth, value creation and capture, as well as improvements in operational excellence continued to drive improvement in profitability,” Venture Corp says in an SGX filing on Friday.
Cash and cash equivalents stood at $462.5 million as at March 31, 2017.
Looking ahead, Venture Corp says it “remains vigilant of intense industry competition”.
“To stay ahead, the group will continue to execute with excellence in quality, productivity and value creation,” it adds.
The group says it will continue to focus on investing in transformative engineering talents and advanced manufacturing capabilities.
Shares of Venture Corp closed 21 cents higher at $12.20 on Friday.
