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© batman2000-dreamstime.com Electronics Production | May 01, 2013

Venture off to a rocky start

Singapore based EMS provider Venture Corporation Limited's first quarter of 2013 showed a disappointing revenue decline of 7.6%.
For the quarter ended 31 March 2013, Venture Corporation Limited registered revenue of SGD 530.5 million, a decline of 7.6% compared to the corresponding quarter of the prior year. The year-on-year SGD depreciation of approximately 2.7% contributed to the reduction in the Group’s revenue for the reported quarter.

The Group registered a net profit of SGD 28.0 million for the quarter ended 31 March 2013 compared to SGD 35.5 million for the corresponding quarter of the prior year. The decline in net profit is primarily due to a drop in revenue, as well as other factors including an income tax expense and a lower share of profit of associate.

1 SGD = 0.61941 EUR (Oanda.com April 30 2013)

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