SINGAPORE (Nov 9): Maybank KimEng is maintaining its “buy” call on Venture Corp with $10.70 target price as the latter’s 3Q results are in line with its estimates. Venture has also shown the strongest top line growth since 2009 while margins and free cash flow continued to improve.

To recap, revenue rose 16% to $693 million in 3Q, the strongest quarterly growth since 2009. Net profit rose 12% to $40.6 million on year while 9M15 net profit of $109 million was 70% of our FY15E forecast.

In a Nov 8 report, analyst Gregory Yap says top line growth was equally driven by value-creation and forex gains.

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