- Venture Corp (SGX:V03) reported 1H24 revenues of S$1.38bn and NPAT of S$123.7m, below ours and consensus estimates. Management remains bullish on its prospects and expects 2H24 to be better than 1H24.
- - Read this at SGinvestors.io -
Stronger 2Q24 but not strong enough
- Venture Corp's 2Q24 revenue of S$717m is 7.6% higher q-o-q, while NPAT improved 5.7% y-o-y to S$63.5m. But net margin dipped to 8.9% from 9.0%, possibly signalling weaker margins likely due to a lower revenue base and lower utilisation across its factories.
- - Read this at SGinvestors.io -
Interim dividend of S$0.25/sh maintained
- Venture Corp declared a 1H24 interim dividend of S$0.25, a similar rate to that since FY20. See Venture Corp's dividend dates.
- With an expected final dividend of S$0.50, the FY24E total dividend is expected to be S$0.75, delivering a yield of 5.2%.
With macro uncertainty – better to wait and see
- Read more at SGinvestors.io.
Above is the excerpt from report by Maybank Research.
Clients of Maybank Securities may be the first to access the full report in PDF @ https://www.maybanktrade.com.sg/.
Jarick Seet Maybank Research | https://www.maybank-ke.com.sg/ 2024-08-06
Previous report by Maybank:
2024-05-05 Venture Corporation - 1Q Disappoints But Brighter Outlook.
Price targets by 2 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
