- 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.