Venture Corporation - Phillip Securities 2024-08-08: Some Stability Creeping Up

Venture Corporation - Some Stability Creeping Up

Published:
Venture Corp (SGX:V03) | SGinvestors.ioVenture Corp (SGX:V03)
  • 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





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