Venture's profits down 6.1% in FY13

Revenue also dipped by 2.4%.

According to OCB CInvestment Research, Venture Corp (VMS) managed to deliver continued sequential improvement in its quarterly revenue and PATMI for FY13. It believes this reflects the recovery momentum of the global economy and consequently VMS’s operations, although FY13 revenue and PATMI still came in 2.4% and 6.1% lower than FY12, respectively.

Here's more:

The main drag came from its Printing and Imaging (P&I) segment, which registered a 32.6% slump in revenue. HP, one of VMS’s key P&I customers, recently highlighted that it is experiencing ASP pressures, although underlying unit demand is improving. VMS is placing more focus on the higher margin commercial high-end printing segment and has also diversified into label printing and 3D printing.

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