Venture Corp's profits fell 1.9% to $363.13m in 2019

It is working to implement action plans to stabilise supply amidst the COVID-19 outbreak.

Venture Corporation’s (Venture Corp) profits posted a 1.9% decrease to $363.13m in 2019, from $390.06m in 2018. Full-year revenues, meanwhile, edged up 4.3% to $3.63b, from $3.48b in 2018.

For Q4, the company’s profit dropped by 10.6% to $96.25m in 2019, from $107.69m over the same quarter in 2018. Revenues for the quarter, on the other hand, increased by 2.9% YoY to $932.07m.

Full-year and quarterly revenue growth was attributed to its diverse portfolio of customers.

The company proposed a final dividend of $0.50 per share.

Subject to approval of shareholders, the proposed final dividend will be paid on 22 May 2020.

For its 2020 outlook, Venture Corp said that for Q2 2020, it expects to be able to fulfill most of its customers’ orders, including backlog for Q1 2020. It expects a stronger H2 2020 to be supported by new products across multiple technology domains.

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