Venture Corporation - Phillip Securities 2024-05-06: Worst Performance Since 2016

• 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 an excerpt from a report by Phillip Securities Research.
Clients of Phillip Capital may be the first to access the full PDF report @ https://www.stocksbnb.com/.

Read also Phillip's most recent report:
2025-05-15 Venture Corp - 2025 Looks Tough.

Previous report by Phillip:
2025-02-24 Venture Corporation - Policy Headwinds.

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 Dividend Payout Dates & Corporate Actions,
Venture Corp News