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

• 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 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:
2025-02-24 Venture Corporation - Policy Headwinds.

Previous report by Phillip:
2024-11-11 Venture Corporation - Paid To Gaze At The Horizon.

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