Venture profits up 16.9% to $47.4m in 3Q

Thanks to strong growth in two key segments.

Despite an uncertain economy, Venture managed to deliver a 16.9% YoY increase in 3Q16 to $47.4m

RHB notes that the higher net margin was attributed to value creation through stronger complementary and collaborative partnerships.

In particular, the research house cited strong performance from Networking & Communications and Test & Measurement/ Medical/ Others segments which achieved the highest growth YoY of 13.6% and 25.3% respectively in 3Q16. This helped to alleviate losses at the remaining segments.

Looking ahead, RHB expects changes in segmental growth at the group, given the changing customer mix in 2017.

"With a slightly better-than-expected performance in 3Q16, we are projecting a strong 4Q16 ahead. The Test and Measurements segment continues to grow strongly, underpinned by orders from existing and new customers," it said.

It expects value creation and continued improvements in operational excellence across the group's facilities as well as its entire value-chain, which would continue to drive margin improvements

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