Venture’s net profit jumps by 22.2% to $51.6m

On back of aggressive productivity drives.

Venture’s focus on value creation has finally paid off, as its earnings grew by 3.4% yoy to $683.3m, buttressed by outstanding margins.

According to a report by OCBC, this was driven by the Test & Measurement/Medical & Life Science/Others (TMO) segment.

“VMS recorded this strong growth despite a 33.2% jump in income tax expense to S$8.2m, as PBT and net margins saw solid YoY improvement of 1.2ppt and 0.9ppt to 7.6% and 6.4%, respectively,” the report said.

Looking forward, Venture looks to keep its sights on value creation, as it invests on strengthening its research and development capabilities.

 “VMS’ ability to develop new products as well as improve existing products’ design alongside its customers will allow its manufacturing business to grow on improved margins with each successful product,” the report said.