- Venture Corp (SGX:V03)'s 1H24 results were below expectations. Both revenue and PATMI were 44%/43% respectively of our FY24e forecasts.
- 2Q24 net profit declined 4.3% y-o-y to S$63.8mil, with revenue contracting 6% to S$717mil. The pace of revenue contraction is the slowest after six quarters.
- - Read this at SGinvestors.io -
- We lower our FY24e revenue and PATMI forecast for Venture by 4% and 5% respectively. We maintain our NEUTRAL recommendation.
The Positive
Healthy free cash-flows.
- - Read this at SGinvestors.io -
- Venture has started to buy back S$6.1mil more shares (1H23: S$0.7mil) with its cash pile.
The Negative
Earnings & revenue still contracting.
- 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/ 2024-08-08
Previous report by Phillip:
2024-05-06 Venture Corporation - Worst Performance Since 2016.
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
