SINGAPORE (Feb 24): Venture Corp, the electronics services provider, posted 4Q16 earnings of $54.1 million, 20.6% higher from $44.8 million of earnings declared a year ago on higher revenue.
For the 12 months ended Dec, total earnings grew 17.3% to $180.7 million from $154 million in FY15.
The improvement in profitability was driven by revenue growth, value creation, as well as improvements in operational excellence across the group’s facilities and its entire value-chain, says Venture in its financial results announcement on Friday.
Revenue for the quarter grew 23.1% to $854.6 million from $694 million in the previous year, largely due to new product/programme introduction by customers, in addition to revenue growth from customers won in recent years.
Net margin for 4Q registered at 6.3% from 6.5% in the previous year, while diluted earnings per share was 19.3 cents compared to 16.2 cents in 4Q15.
The group has recommended a final dividend of 50 cents per share on a one-tier tax-exempt basis for FY16.
In its outlook, Venture says it remains steadfast in strengthening its ‘Clusters of Excellence’ and deepening its partnerships for value creation with leaders in technology domains of interests – and will continue to augment its solid customer base, forging new complementary and collaborative alliances through its well-regarded engineering and manufacturing capabilities.
“Venture will also continue to invest in growing its core groups of management, technical and professional talents to realise its mission to be a leading global provider of technology services, products and solutions,” adds the group.
Shares of Venture closed 0.6% higher at $10.32 on Friday before the results announcement.
