Venture Corporation revenue drops 21.7% in FY23

The group registered a net profit of $270m.

Venture Corporation Limited reported a revenue of $3,025b for the fiscal year 2023 (FY23), down by 21.7% year-on-year.

The decline was attributed to softer demand across its technology domains and customers’ inventory destocking.

Amidst the revenue decrease, the group registered a net profit of $270m for FY2023, resulting in a net margin of 8.9%.

Operating cash flow before working capital changes amounted to $331.4m for the fiscal year.

The directors proposed a final dividend of $0.50 per ordinary share on a one-tier tax-exempt basis for FY2023.

Combined with the interim dividend of $0.25 per share paid in September 2023, the total dividends for FY2023 will stand at $0.75 per share.

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