- Venture Corp (SGX:V03)'s 1Q24 results were within expectations. Revenue in 1Q24 declined around 19% y-o-y to S$666.7mil, the weakest in eight years or 2016. The weakness was attributed to destocking in the life science, network, and communications segments.
- - Read this at SGinvestors.io -
- Both revenue and PATMI were 21% of our FY24e forecast. Our FY24e earnings forecast for Venture Corp are unchanged at S$287mil. We expect seasonality in demand to raise earnings sequentially in the coming quarters.
- Maintain NEUTRAL with an unchanged Venture Corp target price of S$12.75.
The Positive
Cash piling up.
- - Read this at SGinvestors.io -
- We believe the high cash levels is now the biggest growth driver with increased interest income.
The Negative
Revenue plunging to 8-year lows.
- Read more at SGinvestors.io.
Above is the excerpt from report by Phillip Securities Research.
Clients of Phillip Capital may be the first to access the full report in PDF @ https://www.stocksbnb.com/.
Paul Chew Phillip Securities Research | https://www.stocksbnb.com/ 2024-05-06
Read also Phillip's most recent report:
2024-11-11 Venture Corporation - Paid To Gaze At The Horizon.
Previous report by Phillip:
2024-08-08 Venture Corporation - Some Stability Creeping Up.
Price targets by 3 other brokers at Venture Corp Target Prices.
Listing of research reports at Venture Corp Analyst Reports.
Relevant links:
Venture Corp Share Price History,
Venture Corp Announcements,
Venture Corp Dividends & Corporate Actions,
Venture Corp News Articles
