Venture Corp’s net profit up 5.8% to $32.6m in Q1

Thanks to steady top-line growth.

Venture Corporation reported that its net profit grew 5.8% to $32.6m in the first quarter, driven by steady top-line growth.

Venture's revenue grew 3% year-on-year to $608.7m, while working capital increased largely due to higher inventories to meet customers’ requirements and programmes.

According to OCBC, Venture’s management guided that there are more opportunities to grow through the Test & Measurement and Medical & Life Science segment.

“We think the expected recovery in U.S. will help sustain VMS’ steady top-line growth with improving margins since cost management and productivity gains have always been management focus to drive efficiency,” stated OCBC.