Leading manufacturing services provider Venture Corp has reported 3QFY20 earnings of $80.2 million, down 5.9% y-o-y, on the back of a 5.8% y-o-y dip in revenue to $818.4 million.

However, compared to the preceding 2Q, the company was able to report both higher top and bottom lines. Q-o-q, revenue for 3Q is up 18.2% and earnings is up 14.2%.

“Venture’s sequential improvement over the past two quarters clearly demonstrates the competency, resourcefulness and the resilience of our people as well as the consistent and invaluable support of our business community,” the company states.

The company attributes the growth to strong, broad-based demand from its customers in life sciences, medical devices, healthcare, networking and semiconductor sectors.

Despite the impact of Covid-19, the company expects to continue its “trajectory of recovery” and to report a stronger second half this financial year versus the first half. 

As at 30 Sept, the company’s net cash was $829.7 million, up from $713.4 million as at Dec 31 2019.

Venture Corp shares closed on Nov 6 at $19.82, down 12 cents, or 0.6%.