• Strongest quarterly results in past eight quarters; FY14 results in-line with consensus.
• Strong boost from Test & Measurement / Medical & others product segment, driven by new customer acquisitions.
• Guided for long-term sustainable growth but wary of slowdown impact from Europe and Asia in the short-term.

Key takeaways from results briefing

Management seeing negative impact fromEuro economy spillover to 1H2015.

Profit growth mainly driven by strong underlying demand as strengthening of US dollar do not provide significant growth contribution.

Group to focus on driving output productivity through R&D innovations and upgrading of operational skills among staff.

Higher R&D expenses incurred due to new projects undertaken during the year. Management expect the new projects would hopefully yield results by 2016.

Investment Action

No stock rating or price target provided, as we do not have coverage on Venture Corp Ltd.

Source: Phillip Securities Research - 3 Mar 2015