-
- News
- Books
Featured Books
- smt007 Magazine
Latest Issues
Current IssueSoldering Technologies
Soldering is the heartbeat of assembly, and new developments are taking place to match the rest of the innovation in electronics. There are tried-and-true technologies for soldering. But new challenges in packaging, materials, and sustainability may be putting this key step in flux.
The Rise of Data
Analytics is a given in this industry, but the threshold is changing. If you think you're too small to invest in analytics, you may need to reconsider. So how do you do analytics better? What are the new tools, and how do you get started?
Counterfeit Concerns
The distribution of counterfeit parts has become much more sophisticated in the past decade, and there's no reason to believe that trend is going to be stopping any time soon. What might crop up in the near future?
- Articles
- Columns
Search Console
- Links
- Media kit
||| MENU - smt007 Magazine
Venture Records 135% Q3 Net Profit Growth
November 6, 2017 | Venture Corporation LtdEstimated reading time: 2 minutes
In the third quarter of 2017, Singapore-based EMS firm Venture Corp. Ltd registered a 135% jump in net profit to S$111.4 million, driven by strong revenue growth and value creation through engineering and R&D capabilities. Sustained operational excellence also contributed to the high productivity and quality performance. For the nine months ended 30 September 2017, net profit rose 81.5% year-on-year to S$229.8 million.
For the quarter ended 30 September 2017, the Group registered revenue of S$1.1 billion, an increase of 50.5% year-on-year. For the nine months ended 30 September 2017, revenue improved by 44.5% year-on-year to S$2.9 billion. Revenue improvement for the reported quarter and for the first nine months of 2017 is attributable to the commendable progress achieved by the Group across several strategic and operational imperatives including continuing strong execution of customers’ programs and deepening of collaborative partnership with strategic customers.
In tandem with the revenue growth, the Group recorded profit before tax (PBT) of S$131.3 million for the quarter ended 30 September 2017, an increase of 131.7% year-on-year. For the first nine months of 2017, the Group recorded PBT of S$275.8 million, an increase of 82.9% year-on-year. In line with the higher PBT and based on tax incentives granted to its subsidiaries, the Group reported income tax expense of S$19.9 million for the reported quarter and S$46.0 million for the first nine months of 2017.
Net profit rose 135.0% year-on-year to S$111.4 million for the reported quarter. For the nine months ended 30 September 2017, net profit rose 81.5% year-on-year to S$229.8 million. The Group registered net margin of 10.5% for the reported quarter (3Q 2016: 6.7%) and 7.9% for the first nine months of 2017 (9M 2016: 6.3%).
Diluted Earnings Per Share for the reported quarter was 38.9 cents (3Q 2016: 17.0 cents) and 80.5 cents for the first nine months of 2017 (9M 2016: 45.5 cents).
Financial Position and Cashflow
The Group generated operating cash flow of S$153.5 million before working capital changes for the quarter ended 30 September 2017 (3Q 2016: S$71.2 million). For the nine months ended 30 September 2017, operating profit before working capital changes amounted to S$315.9 million (9M 2016: S$187.4 million). For the quarter ended 30 September 2017, the Group registered an increase in working capital position largely due to trade receivables and inventories balances. Trade receivables balance stood at S$803.7 million in tandem with the revenue recorded for the reported quarter. The increase in inventories was primarily to support customers’ requirements and programmes. For the nine months ended 30 September 2017, the Group generated cash from operations of S$308.6 million (9M 2016: S$207.6 million).
As of 30 September 2017, the Group had S$599.6 million of cash and bank balances (S$499.7 million as at 31 December 2016). As at the end of the reported quarter, the Group remained net cash positive at S$535.1 million (S$407.1 million as at 31 December 2016).
As at 30 September 2017, Equity attributable to owners of the Company was S$2.0 billion (S$2.0 billion as at 31 December 2016) and Net Asset Value per share was S$7.14 (S$7.03 as at 31 December 2016).
Outlook
Venture Corporation’s recent financial results and operational excellence are strong indicators of its progress across multi-platforms of strategic and operational initiatives.
Venture continues to forge deeper and mutually beneficial collaborative partnerships and alliances across its diversified portfolio of ecosystems of interests. Partners selected are typically leaders in fast-growing technology domains of interests. Venture’s ambition is to be well positioned to effectively deliver and realise impactful values for its partners.
Success is accomplished inter alia, through growing a critical mass of high quality talents across the management, technical and professional disciplines. Venture remains committed to harness the collective strengths and synergies of its human capital to relentlessly deliver compelling differentiation, advancing Venture’s position as a leading global provider of technology solutions, products and services.
Suggested Items
IDC: China Becomes the Largest Wrist-Worn Device Market, Leading Global Growth
12/26/2024 | IDCAccording to the latest Worldwide Wearables Quarterly Tracker released by International Data Corporation (IDC), the global wrist-worn device market shipped 139.0 million units in the first three quarters of 2024, a year-over-year decline of 1.0%, mainly due to the homogenization of competition and market saturation in India and the United States.
Vertical Aerospace Finalises Investment Agreement
12/25/2024 | BUSINESS WIREVertical Aerospace Ltd., a global aerospace and technology company that is pioneering electric aviation, has entered into definitive documents and received shareholder approval for a transaction that includes up to $50 million in new committed funding.
The 500 Largest Cellular IoT Deployments Together Account for 632 Million Units
12/23/2024 | Berg InsightBerg Insight presents its yearly updated database covering the 500 largest cellular IoT deployments identified as part of the company’s world-class IoT market research activities since 2004.
Cicor Publishes Nine-month Results Report due to OEP Mandatory Offer
12/20/2024 | CicorCicor Group is publishing a nine-month report today. OEP has published a mandatory offer after it converted its Mandatory Convertible Bonds (MCNs) and thereby crossed the mandatory offer threshold.
Curtiss-Wright Announces New $100 Million Expansion of 2024 Share Repurchase Program, Raises Minimum Annual Repurchase Plan to $60 Million for 2025
12/17/2024 | Curtiss-Wright CorporationCurtiss-Wright Corporation announced a $100 million expansion of its 2024 share repurchase program, which it expects to complete via a 10b5-1 program by the end of the year.