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Venture Corp's 3Q earnings more than double to $111.4 mil as quarterly revenue crosses $1 bil mark

Stanislaus Jude Chan
Stanislaus Jude Chan • 1 min read
Venture Corp's 3Q earnings more than double to $111.4 mil as quarterly revenue crosses $1 bil mark
SINGAPORE (Nov 3): Venture Corporation saw its earnings more than double to $111.4 million in the 3Q ended September, from $47.4 million a year ago.
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SINGAPORE (Nov 3): Venture Corporation saw its earnings more than double to $111.4 million in the 3Q ended September, from $47.4 million a year ago.

This was driven by strong revenue growth, value creation through R&D capabilities, cost management, and operational excellence.

Revenue swelled to $1.06 billion in 3Q17, improving 50.5% from $705.7 million a year ago.

This was mainly attributable to progress across several strategic and operational imperatives, including strong execution of customers’ programmes and deepening of collaborative strategic partnerships.

As at end September, cash and cash equivalents stood at $574.9 million.

In its outlook, Venture says its financial results and operational excellence are strong indicators of its progress across multi-platforms of strategic and operational initiatives.

The group says it will continue to forge mutually beneficial collaborative partnerships, as well as harness the collective strengths and synergies of its human capital.

Shares of Venture Corp closed 2 cents higher at $19.30 on Friday.

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