- Grand Venture Technology's FY24 earnings came in at S$10.9mil (+96.4% y-o-y), on record revenue at S$159.5mil (+43.3% y-o-y). Revenue exceeded the top end of guidance of S$154.3mil due to stronger performance across all three segments.
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- Revenue from the life sciences segment grew 11.3% y-o-y to S$22.9mil as supply chain shifts to South-East Asia drove wallet share gains from new projects with key customers.
- Revenue from the EAMO (electronics, aerospace, medical, and others) segment also surged to S$48.8mil (+30.3% y-o-y) on contributions from the ACP acquisition and robust demand in aerospace and medical segments.
Strong finish to FY24 with full year revenue & earnings outperforming our estimates by 7-14%.
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- Net profit margin came in at 6.8% (+1.8 ppts) benefitting from deferred income tax credits of S$2.0mil, resulting in FY24 Grand Venture Technology's profit after tax of S$10.9mil (+96.4% y-o-y), above our expectations.
Upbeat 1H25 revenue guidance of S$90-96mil (+31.7-40.5% y-o-y) reinforces growth narrative.
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