Revenue for the quarter fell 27.5% to $673 million, from last year’s $928.8 million, while Venture Corp’s net cash position grew 19.5% to $852.5 million from last year’s $713.4 million.
SINGAPORE (May 8): Venture Corporation posted earnings of $60.3 million for the 1Q2020 ended March, some 33.6% lower than $90.9 million a year ago.
The decrease is in tandem with the border control and social distancing measures owing to the Covid-19 pandemic, which caused disruptions to the corporation’s global supply chain in China, Malaysia, and Singapore. Earnings took a hit mainly in the second half of 1Q2020 due to factory lockdowns in China, Spain, the US, and Malaysia.
