The company delivers robust performance, driven by broad-based growth across key technology domains.
VENTURE Corporation (V03) has announced a 24.1% increase in net profit for the first half of 2022, driven by higher revenue. Net profit for the period reached S$174.3 million, up from S$140.4 million in H1 2021, as per the company’s filing on Friday (Aug 5). Earnings per share improved to S$0.599, compared to S$0.484 in the previous year.
In line with its performance, the board of directors declared an interim dividend of S$0.25 per share, matching the interim dividend from the previous year. The dividend will be paid on September 15.
Revenue for the first half of 2022 rose by 25.4%, totalling S$1.8 billion, up from S$1.4 billion in the same period last year. The company attributed this growth to steady expansion across its portfolio, particularly in the healthcare and wellness, life sciences and genomics, and test and measurement instrumentation sectors.
Looking ahead, Venture expects demand to remain strong in the second half of 2022, citing order patterns from its customers and business partners. Despite challenges from global supply chain constraints, inflationary pressures, and a tight labour market, the company remains optimistic about its ability to navigate these issues with operational excellence and improved inventory management.
As of June 30, 2022, Venture’s net asset value per share rose to S$9.506, up from S$9.348 at the end of December 2021. The company’s stock rose by 1% on Friday to close at S$17.73 before the earnings announcement.
