Venture Announces Second Quarter Recovery

Venture Corporation Limited achieved revenue of S$846.0 million for the second quarter of 2009, 17 percent above revenue recorded for the first quarter of the year. On a year-on-year basis, revenue was 13 percent lower.

According to the group, the recovery from the first quarter of the year was due to demand pick-up for several products and improvement in market share. All product segments, except test and measurement/others, registered improvement in revenue. The printing and imaging segment grew by more than 36 percent sequentially. The retail store solutions and industrial products segment made progress in the quarter with a 9 percent rise in revenue over the prior quarter. The computer peripherals and data storage segment, as well as the networking and communications segment recorded higher revenue sequentially of 8 and 7 percent respectively.

Venture added that sentiments of its customers remained mixed and divergent. In general, most are more positive about their second half business prospects. However at this point in time, they are not prepared to commit to the pace and trajectory of recovery.
The group said it will continue to focus on operational excellence, differentiation and innovation to enlarge its market share, penetrate new market segments and win new businesses.

In recent months, the group has added several new customers and projects across all the business segments. These new programmes are expected to contribute to its performance starting next year.

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