Earnings per share comes in at S$0.193, down 6.8% from the year-ago period

 

[SINGAPORE] Technology solutions provider Venture Corporation reported a 7 per cent decline in net profit to S$55.9 million in the first quarter of 2025, from S$60.1 million in the year-ago period. 

 

Revenue fell 7.5 per cent to S$616.6 million, from S$666.7 million in the corresponding period a year ago. 

 

Group revenue declined largely due to lower demand in the company&rsquo s lifestyle consumer technology domain, where it improved the reliability and longevity for a customer&rsquo s key products through R& D design innovation, which led to lower product replacement, the group said in a bourse filing on Wednesday (May 14). 

 

Excluding the lifestyle consumer technology domain, Q1 revenue would have risen year on year, the mainboard-listed company added.

 

Earnings per share came in at S$0.193, down 6.8 per cent from the year-ago period. 

 

The group generated net cash of S$55.4 million in Q1, compared with S$132.9 million a year ago. Its working capital position improved by S$20.8 million through proactive working capital management and a reduction in inventory, it noted. 

 

It said: &ldquo There is broad consensus amongst our customers that the ongoing tariff situation has created significant uncertainty in the global economic environment, with no clear visibility in the tariff landscape over the next 12 months.&rdquo

 

&ldquo Venture is well-positioned to proactively create competitive solutions for our customers and partners. With synergistic capabilities across our operations globally, we see opportunities to expand our market share in at least three or four of our technology domains.

 

MAINBOARD-LISTED Venture Corporation Venture : V03 +0.51% will temporarily halt its operations in Shanghai for a short period this week, after Shanghai' s city government announced that the city will go through a two-phase lockdown for 9 days, starting with residents to the east of the Huangpu river.

 

In response to The Business Times' queries, the company said it will continue to monitor the situation closely as it evolves and that the safety and well-being of its employees remains its topmost priority. Its initial assessment of the lockdown suggests that there is no significant impact to the business.

 

According to its 2020 annual report, Venture Electronics (Shanghai), a wholly-owned subsidiary, trades and manufactures electronic and computer-related products. Another wholly-owned subsidiary, Shanghai GES Information Technology, provides electronic manufacturing services.

 

" Prior to the recent lockdowns, we have minimised disruptions to the business by working very closely with our customers, and providing food supplies and other essentials to our employees at our plants to continue to run our operations," the company added.

 

According to the company' s spokesperson, 85 per cent of the company' s employees in China are vaccinated and there have not been any infected cases detected as of Mar 28.

 

Additionally, the company has also set up task forces to deal with operation challenges by working with customers, suppliers, government agencies and industry associations.