- Venture Corp (SGX:V03) reported revenues of S$666.7m and NPAT of S$60.1m, slightly below our estimate of S$64m as we were expecting a weaker 1Q24. However, management is bullish on its prospects ahead and expects 2Q24 to be better than 1Q24, while it also expects 2H24E to be better than 1H24E.
- - Read this at SGinvestors.io -
Softer demand and destocking weighs on 1Q
- Venture Corp's 1Q24 revenue dropped 18.9% y-o-y to S$666.7m while NPAT decreased by 18.3% y-o-y to S$60.1m. This is mainly due to weaker demand amid some headwinds which have begun to taper off.
- Life science and certain segments of the network and communications market also faced some destocking which contributed to weaker demand.
Better quarters ahead
- - Read this at SGinvestors.io -
- It also remains confident of maintaining net margins of between 8-10% for FY24E and continues to see significant growth opportunities in eco-systems like life sciences, test & measurement instrumentation, hyperscale data centres, semi-conductor equipment, advanced industrial, networking & communications and luxury lifestyle and wellness domains.
Stable, gradual recovery
- Read more at SGinvestors.io.
