- Grand Venture Technology (SGX:JLB)'s FY23 revenue of S$111.3m, down 15.1% y-o-y, attributable to weakness in the semiconductor segment. The decline primarily stemmed from weakness in the semiconductor back end, in tandem with the overall industry downturn. Accordingly, the share of revenue from the semiconductor segment fell to 47.9% in FY23 (vs. 55.4% in FY22).
Revenue by business segments.
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- Revenue from the EAMO (Electronics, Aerospace, Medical, and Others) segment remained flat with lower contribution from the electronics sub-segment offset by maiden full year contribution from GVT Suzhou Limited (formerly J-Dragon) and Formach.
FY23 earnings of S$5.5m (-58.4% y-o-y) with the key drag at the gross profit level, below expectations.
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Final dividend of 0.1 cents/share proposed.
- Total dividend per share for FY23 stands at 0.1 cents/share vs 0.6 cents/share in FY22.
Outlook
Revenue guidance hints at a better 2024; backend-semicon recovery likely tilted towards 2H24.
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