Venture Corp says the sustained profitability is driven by deep value creation through differentiated engineering capabilities and continuous lean initiatives to drive productivity gains, along with astute cost management.
1Q19 revenue rose 8.5% to $928.8 million, from $856.0 million a year ago.
This was mainly attributable to broad-based growth across the group’s portfolio of technology domains and execution of customers’ programmes.
On a fully diluted basis, earnings per share (EPS) rose to 31.5 cents in 1Q19, compared to 28.8 cents in 1Q18.
As at end March, cash and cash equivalents stood at $806.8 million.
Looking ahead, Venture says it remains vigilant to the overhang of several macroeconomic factors despite starting the year with positive momentum.
It adds that factors such as protracted trade tensions and the global economy slowdown have led to a mixed business sentiment across the group’s diversified customer base, which might lead to near-term volatility to the group’s performance.
Shares in Venture closed 10 cents down at $19.29 on Thursday.
