Venture Corporation revenue up 7.6% to $717.5m in H1 2024

A dividend payment of $0.50 has been declared.

Venture Corporation reported a net profit of $123.7m for the first six months of 2024, its latest bourse filing showed. Revenue for the period is $$1.38b.

Its interim dividend is $0.25 per share on a one-tier tax-exempt basis for Q1, and $0.426 for H1.

For Q2, Venture Corporation registered a net profit of $63.5m and a revenue of $717.5m, the latter an increase of 7.6% quarter-on-quarter (QoQ).

Cash flow improved to $153m in Q2, thanks to optimisation in its working capital, Venture Corporation said. For H1, the company recorded a cash flow of $302.3m, compared to $290.9m in H2 2023.

Its interim dividend is $0.25 per share on a one-tier tax-exempt basis for H1. This is reportedly in line with the interim dividend for the same period in 2023.

Looking ahead, Venture Capital expects its group revenue to end up stronger in H2 2024 compared to H1.