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Grand Venture declares maiden dividend as H1 earnings surge to S$8.5m
CATALIST-LISTED Grand Venture Technology has declared its first cash dividend, amounting to 0.5 Singapore cent per share, given strong bottom-line growth for the first half of this year.
The proposed payment date for the interim dividend is Sept 10, after the books close on Aug 26.
The manufacturing solutions and services provider, which went public in January 2019, expects to continue with a dividend payout ratio of up to 20 per cent. This will be subject to its profit performance, balance sheet and cash-flow requirements, as well as the availability of market opportunities for value-creating investments.
The maiden dividend came as Grand Venture' s net profit nearly quadrupled to S$8.5 million for the six months ended June 30, up from S$2.2 million in the year-ago period.
Earnings per share stood at 3.07 Singapore cents, compared to 0.95 cent in the corresponding period in 2020, it said in results released on Tuesday night.
Revenue almost doubled to S$53.5 million, from S$26.9 million in H1 2020, as robust customer demand boosted business activity across all its business segments.
In the group' s semiconductor segment, revenue more than doubled to S$38.9 million, from S$18.2 million previously. The strong demand for semiconductors was driven by the global push towards digitalisation, consumer electronics, data, 5G, artificial intelligence and Internet of Things, although the group' s growth was partially constrained by Malaysia' s movement control order implemented in May.
Meanwhile, the life sciences segment' s revenue rose 62.2 per cent year on year to S$8.3 million, as the group started mass production of mass spectrometers amid higher demand for such equipment in areas including drug discovery and vaccine production.
Grand Venture said it will be building up its working capital to meet its customers' needs, as it expects an increased level of business activity in the months ahead.
At the same time, the group is also enhancing its capabilities in advanced materials and expanding its customer base in the medical and life sciences industries, both organically and inorganically.
Grand Venture declares maiden dividend as H1 earnings surge to S$8.5m
Catalist-listed Grand Venture Technology has declared its first cash dividend, amounting to 0.5 Singapore cent per share, given strong bottom-line growth for the first half of this year.The proposed payment date for the interim dividend is Sept 10, after the books close on Aug 26.
The manufacturing solutions and services provider, which went public in January 2019, expects to continue with a dividend payout ratio of up to 20 per cent. This will be subject to its profit performance, balance sheet and cash-flow requirements, as well as the availability of market opportunities for value-creating investments.
The maiden dividend came as Grand Venture' s net profit nearly quadrupled to S$8.5 million for the six months ended June 30, up from S$2.2 million in the year-ago period.
Earnings per share stood at 3.07 Singapore cents, compared to 0.95 cent in the corresponding period in 2020, it said in results released on Tuesday night.
Revenue almost doubled to S$53.5 million, from S$26.9 million in H1 2020, as robust customer demand boosted business activity across all its business segments.
In the group' s semiconductor segment, revenue more than doubled to S$38.9 million, from S$18.2 million previously. The strong demand for semiconductors was driven by the global push towards digitalisation, consumer electronics, data, 5G, artificial intelligence and Internet of Things, although the group' s growth was partially constrained by Malaysia' s movement control order implemented in May.
Meanwhile, the life sciences segment' s revenue rose 62.2 per cent year on year to S$8.3 million, as the group started mass production of mass spectrometers amid higher demand for such equipment in areas including drug discovery and vaccine production.
Grand Venture said it will be building up its working capital to meet its customers' needs, as it expects an increased level of business activity in the months ahead.
At the same time, the group is also enhancing its capabilities in advanced materials and expanding its customer base in the medical and life sciences industries, both organically and inorganically.
Shares of Grand Venture fell 1.5 per cent or S$0.02 to close at S$1.31 on Tuesday, before it announced the financial results.
Last:1.28 
+0.04
flying to the moon
tech stocks in focus
gd luck dyodd
+0.04flying to the moon
tech stocks in focus
gd luck dyodd
ozone2002 ( Date: 26-Jul-2021 11:02) Posted:
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chart so nice...already broke 1.20...wonder next is 1.30?
hit $1.2 my TP today!
AttasBoss ( Date: 30-Jul-2021 12:04) Posted:
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ums & frenken coming
turltle moving slowly....zzzzzzzzzz GV broke resistant at 60c in May21...$1.2 still my TP
AttasBoss ( Date: 21-Jul-2021 15:28) Posted:
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hidden gem...1.2 on the way
AttasBoss ( Date: 28-Jul-2021 18:03) Posted:
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Mgmt alrd commented their forecast to be very posotive
Singpost ( Date: 28-Jul-2021 16:35) Posted:
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will frencken result cominng with bright star???
WA 1 mouth up 1.09
Last:1.05 +0.02
As predicted
Good to take some profit
Gd luck dyodd
As predicted
Good to take some profit
Gd luck dyodd
ozone2002 ( Date: 08-Jun-2021 15:59) Posted:
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Hovering at day high...
SAC Capital starts Grand Venture Technology at ' buy' with TP of $1.18
SAC Capital has initiated " buy" on manufacturing solutions and service provider Grand Venture Technology (GVT) with a target price of $1.18, representing a 15.7% upside from its last-closed price of $1.02 on July 22.The discounted cash flow (DCF)-derived target price translates into an FY2021/FY2022 price-to-earnings (P/E) of 25.1 times and 21.2 times respectively, says SAC Capital analyst Tracy Lim in a July 23 report.
To Lim, GVT is likely to see continued " solid growth" in all of its three segments, with the strong global demand for semiconductors.
To be sure, she has estimated GVT to grow at a compound annual growth rate (CAGR) of 19.7% in 2021 and 8.8% in 2022.
In addition, the mass spectrometry market is seeing heightened demand on the back of more stringent regulations and higher testing activity, while the aging population, higher income levels and rise in minimally invasive procedures will strengthen demand for the production of surgical microscopes, adds Lim.
Through its placement exercise in March, GVT has raised $23.5 million in net placement proceeds, of which $8.0 million is allocated towards capex.
Its new factory in Penang will add some 23% to GVT' s capacity when it is fully operational.
" Management guided that visibility of orders is around nine to 12 months, but they are limited at the current level of production capacity. Thus, we expect [a] high return on investment on their capital spending," says Lim.
During the 1QFY2021 ended March, GVT saw net profit growth of around 5.3 times to $3.3 million due to a growing share of customers.
The group' s revenue for the period increased by 59.0% y-o-y to $23.0 million from $14.5 million in the 1QFY2020.
The higher revenue was driven by growth in all three business segments, led by the semiconductor segment, followed by electronics, medical and others, and the life sciences segment.
The group also reported stronger gross margin of 32.1%, from 22.9% in the 1QFY2020, on improved capacity utilisation.
On her positive sentiment on the counter, Lim explains that she also likes GVT for its " experienced management team [who comes with over 20+ years of experience on average], and its history of profitability since 2016, even before its IPO in 2019."
Key risks to the stock are restrictions on labour as well as key customer risks and competition.
As at 1.33pm, shares in GVT are trading 2 cents higher or 2.0% up at $1.04, or 4.0 times P/B, according to SAC' s estimates.
The P/B includes the amount raised from the new placement shares.
forward looking sentiment, it may rise further and earning out prepare t o sell on news.
No problem.. Price will hovering before actual result.. And we Don not know price will be sell after news or surge after news.. Looking at the PE now, the profit need to be extremely improve
pcxiao2008 ( Date: 22-Jul-2021 10:31) Posted:
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This coy into medical tech?
my TP is $1.10....but looks like maybe will go midway..$1.15
AttasBoss ( Date: 21-Jul-2021 15:28) Posted:
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TP $1.20
Uncharted liao.......This one will move like UMS, Hi-P , Frecken style. Everyday new high