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05-07

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Venture Corporation - Worst Performance Since 2016

Venture Corp (SGX:V03)'s 1Q24 results were disappointing. Revenue in 1Q24 declined around 19% y-o-y to S$666.7mil, the weakest in eight years or 2016. The weakness was attributed to destocking in the life science, network, and communications segments. Net profit declined 18% y-o-y to S$60.1mil. Earnings were supported by strong interest income. Phillip Security Research 06/05/2024: Maintain NEUTRAL with an unchanged Venture Corp target price of S$12.75, based on 2-year historical P/E ratio of 13 times. $Venture(V03.SI)$

Venture Corporation - Worst Performance Since 2016

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