Venture Corp's profit falls 10.6% as costs hike outstrips revenue rise

Singapore

ELECTRONICS manufacturing services firm Venture Corp on Thursday announced a 10.6 per cent drop in net profit for the fourth quarter ended Dec 31, as rising costs outstripped an increase in revenue.

Revenue edged up 2.9 per cent to S$932.1 million from S$905.9 million in the previous corresponding period. But raw materials used, changes in finished goods and ongoing works rose by 4.9 per cent to S$694.4 million.

The company also noted an 11.2 per cent rise in employee benefits expenses to S$85.3 million from the previous year, as i…

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