Venture Corp - IQOS Rumours Set Straight | I3investor

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Venture Corp - IQOS Rumours Set Straight

StockFanatic

Publish date: Mon, 06 Aug 2018, 12:08 PM

Maintain BUY with a new SGD22.20 TP from SGD26.00, 31% upside - pegged to 15.5x (from 17.2x) FY18F P/E. We attended an analyst briefing with management and came away bullish. Venture reported strong 2Q18, which debunked IQOS rumours, with PATMI up 40.2% YoY despite -6% YoY in revenue. This was due to higher margins from a change in business model to have more designing content in products produced, own proprietary product yielding 16-20% net margins and cost optimising throughout the company. Read More

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