Earnings per share for the period came in at 84.5 cents per share for the FY2024, and 41.9 cents for the 2HFY2024.
For FY2024, revenue declined 9.6% y-o-y to $2.74 billion, down from the $3.03 billion reported in the same period a year ago, due to softer customer demand.
Revenue for the 2HFY2024 decreased 6.3% y-o-y to $1.35 billion.
The group says it saw revenue growth across the majority of its technology domains moving from 1HFY2024 into 2HFY2024. Its networking & communications and advanced industrial tech domains improvised, but lifestyle consumer tech was impacted by unexpected lower demand.
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The group’s net profit margin came in at 9.0% for the FY2024.
Operating cash flow was $300.1 million, and the group's net cash flow from operations came in at $482.5 million.
The board has therefore proposed a final dividend of 50 cents per share on a one-tier tax-exempt basis for the FY2024. Including the interim dividend of 25 cents per share paid in September 2024, the total dividend for the FY2024 will amount to 75 cents per share.
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Venture Corp has purchased 1.7 million shares under the share buyback plan announced in Nov 2023 which authorized the purchase of up to 10 million shares in the company. For the remaining 8.3 million shares, the board has approved the acceleration of the share buyback plan moving forward.
On outlook, Venture Corp says that it is currently at various stages of implementing new business wins in design and manufacturing, which includes products in the Networking & Communications, Test & Measurement Instrumentation, Semiconductor Related Equipment, Life Science, Precision Engineering and Lifestyle Consumer technology domains.
Shares in Venture Corporationclosed 2 cents lower or 0.154% down at $12.94 on Feb 21.