Venture's Q3 net profit drops 47.4% to S$40.1m
Posted: 07 November 2008 2232 hrs

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SINGAPORE: Singapore mainboard-listed Venture Corporation posted a 47.4 per cent drop in third-quarter earnings compared to a year ago.

Net profit for the three months ended September 30 amounted to S$40.1 million and revenue rose by 3 per cent to S$965.6 million.

Venture said its bottomline was dragged down by an almost S$30 million fair market adjustment on its derivative financial instrument.

All in, for the first nine months of the year, net profit fell by 28 per cent on-year to S$162 million.


- CNA/so