VENTURE Corporation : V03 +0.97% reported a 24.1 per cent year-on-year increase in net profit for the first half ended June 2022, on the back of higher revenue.

 

Net profit for the 6 month period rose to S$174.3 million, from S$140.4 million in H1 2021, the company said in a bourse filing on Friday (Aug 5). On a per share basis, earnings improved to S$0.599 from S$0.484 in the year ago period.

 

The board of directors has declared an interim dividend of S$0.25 per share, which is in line with the interim dividend a year ago. The interim dividend payment date is set for Sept 15.

 

Revenue for the first half of 2022 climbed 25.4 per cent to S$1.8 billion from S$1.4 billion in the year-ago period.

 

Venture said there was steady growth from broad-based expansion in all technology domains across the group&rsquo s portfolio.

 

&ldquo In particular, healthcare and wellness, life science and genomics and test and measurement instrumentation technology domains registered strong performance,&rdquo it said.

 

Venture expects demand to &ldquo remain unabated&rdquo in H2 2022, based on order patterns from customers and business partners, and it noted that there has been &ldquo resilient demand across its diversified customer base&rdquo .

 

&ldquo The industry continues to see supply lagging behind demand with challenges from global supply chain constraints, rising inflationary pressures and a tight labour situation,&rdquo Venture said. &ldquo Notwithstanding these and other impediments over the next 12 months, with operational excellence and increased focus on inventory management, Venture expects to end the year well. &ldquo

 

Net asset value per share rose to S$9.506 as at end-June 2022, up from S$9.348 in end-Dec 2021.

VENTURE Corporation : V03 +0.53% recorded a 28.6 per cent increase in net profit to S$84 million for the first quarter ended March, from S$65.3 million in the year-ago period.

 

Earnings per share climbed to 28.8 Singapore cents, from 22.4 cents a year ago.

 

Revenue rose 29.5 per cent to S$889.3 million in Q1 on the back of broad-based growth across most of its technology domains, the company said in a business update on Friday (Apr 29).

 

Based on its customers&rsquo orders and forecasts, Venture said it anticipates a steady demand outlook.

 

It added that recent new product launches have been well received by end-customers and have contributed to additional growth.

 

Several initiatives by its research and development labs have also enabled the company to mitigate supply chain disruptions and expand its capabilities to fulfil more orders, Venture said.