These 2 Companies Delivered Growth In Their Latest Quarterly Earnings

We’ve come to the end of the earnings season.

As is common with every earnings season, there will be some companies posting growth, some companies posting mixed numbers, and some companies experiencing declines. So, which are the companies that have recently delivered higher profits? Let’s look at two of them:

1. In early August, Venture Corporation Ltd (SGX: V03) released its 2017 second quarter results.

As a quick background, Venture is an electronics manufacturing services provider. It has its fingers in a range of activities, such as printing & imaging; networking & communications; retail store solutions, and more.

During the reporting quarter, the company saw its revenue jump by 48.3% year-on-year to S$1.01 billion. Profit attributable to shareholders did even better, soaring by 61.0% to S$69.8 million. Consequently, Venture’s earnings per share for the second quarter of 2017 came in at 24.4 cents, up 56.4% from a year ago. Moreover, the company’s balance sheet remained strong, with a high net-cash position of S$366.5 million.

Venture credited its higher revenue in the quarter to its “diversified customer base and continuing strong execution of customers’ programmes launched in prior quarters.”

2. Genting Singapore PLC (SGX: G13) is another company that released its 2017 second quarter results in early August.

Revenue was up 24% to S$596.1 million for Genting Singapore in the reporting quarter. Because of a reduction in a number of expense categories (such as administrative expenses, selling and distribution expenses, and finance), the company’s net profit attributable to shareholders soared from a negative S$10.5 million a year ago to a positive S$143.3 million.

Genting Singapore is likely to be a familiar company to many in Singapore, since it is the operator and owner of the integrated resort, Resorts World Sentosa, one of the Garden City’s tourism landmarks. Amongst Resorts World Sentosa’s many attractions are one of Singapore’s two casinos and the Universal Studios Singapore theme park.

The company’s latest quarterly results marks the third consecutive quarter of revenue growth. As of 30 June 2017, Genting Singapore had $5.69 billion in cash and equivalents and $1.08 billion in debt. This is a strong balance sheet, and marks an improvement from the $4.9 billion in cash and equivalents, and $1.55 billion in total debt recorded last year.

In its earnings release, Genting Singapore shared some important details about its future:

“To further broaden RWS’ appeal as the lifestyle destination, RWS is preparing a five-year strategic roadmap that will significantly enhance our destination appeal in the targeted market segments as well as adopting innovative technology to drive productivity, efficiency and customer experience.

At the Group level, we are closely following the progress of the Japan IR Execution Bill, which will pave the way for the formal bidding process of the Japan gaming licences.”

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The information provided is for general information purposes only and is not intended to be personalised investment or financial advice. Motley Fool Singapore contributor Lawrence Nga doesn’t own shares in any companies mentioned.