[SINGAPORE] Technology solutions provider Venture Corp posted an 8.6 per cent drop in net profit to about S$113 million for the six months ended Jun 30, down from S$123.7 million the year before.
Revenue fell 8.8 per cent to S$1.3 billion, from S$1.4 billion previously, the mainboard-listed group said in a regulatory filing on Wednesday (Aug 6).
Venture attributed the decline to softer customer demand for its lifestyle technology offerings, as well as improved reliability and longevity of a customer’s key product – due to the group’s R&D and design efforts – which triggered fewer product replacements.
Earnings per share stood at 39.2 Singapore cents for the first half, down from 42.6 cents in the previous year.
The company declared a total dividend of 30 Singapore cents per share; this comprised a 25-cent interim dividend and a 5-cent special dividend, up from an interim dividend of 25 cents in H1 2024. The dividend will be paid on Sep 12, after the books are closed on Sep 2.
Venture generated net cash of S$149.8 million in H1, down from S$270.3 million the year before. However, its working capital position improved by S$119.1 million, driven by lower inventories and better trade receivables and payables.
The group acknowledged ongoing uncertainties from the broad-based US tariffs and continued softness in the lifestyle segment. Still, it said it remains confident in its ability to “turn volatility into opportunities”, citing its resilient business model and strong balance sheet.
Shares of Venture closed at S$12.72 on Wednesday, down 10 cents or 0.78 per cent, following the announcement of its results.
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