SHARES in Venture Corporation are taking a beating in Friday's early session, with the electronics services firm S$1.66 or 8.6 per cent lower at S$17.63, as at 11.02am.
For the first quarter, Venture posted a net profit of S$90.9 million, up 8.6 per cent on the year-ago period, that fell in line with street expectations. Revenue rose 8.5 per cent to S$928.8 million, on the back of broad-based growth across the group's portfolio of technology domains, as well as"solid execution" of its customers' programmes, it said.
"The volatility may result in a tough year-on-year earnings comparison in the next quarter, in our view."
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