Venture Corporation - Phillip Securities 2024-11-11: Paid To Gaze At The Horizon

• Venture Corp's earnings are expected to contract to 7-year lows in FY24e.
• 9M24 results were below expectations. Revenue and PATMI were 69%/68%, respectively, of our FY24e forecasts. 3Q24 net profit declined 3.8% y-o-y to S$60.6mil as revenue declined 2% y-o-y.
• - Read this at SGinvestors.io -
• We lower our FY24e revenue and PATMI forecast for Venture Corp by 5% and 6%, respectively. Our NEUTRAL recommendation is unchanged.

The Positive

Ample cash flow.

• - Read this at SGinvestors.io -
• The annual FCF of around S$400mil is more than sufficient to cover the current Venture Corp's dividends of S$218mil. It does not even impact the current S$1.19bn cash pile.
• There is ample room for Venture Corp to return more cash to shareholders.

The Negative

Lack of momentum.

• 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.

Price targets by 4 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