Grand Venture Tech’s profit up 86% in 2024 on strong semiconductor demand

GVT expects further growth through its expansion in advanced semiconductor manufacturing technologies.

Grand Venture Technology (GVT) saw its net profit rise 86% year-on-year (YoY to nearly $11.19m in FY2024, its latest financial report showed.

The precision manufacturing solutions provider saw its revenue rise by 43.3% to $159.52m for the fiscal year. Gross profit rose 40.3% YoY to $39.02m.

The record revenue was supported by strong semiconductor demand from increasing adoption of artificial intelligence and high-performance computing, GVT said.

Revenue for the semiconductor segment rose 64.9% YoY to S$87.8m, contributing to 55% of the company’s total revenue.

GVT expects future growth in the segment to be driven by its expansion in advanced semiconductor manufacturing technologies, including Through-Silicon Via (TSV), Therman Compression Bonding (TCB), and Hybrid Bonding (HB).

Its life sciences segment’s revenue rose 11.3% YoY to $22.9m.

The electronics, aerospace, medical, and others (EAMO) segment recorded a 30.3% revenue growth to $49.8m. GVT credited its growth to “strong demand” in the aerospace and medical segments, and contributions from its acquisition of ACP Metal Finishing Pte Ltd.

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