Grand Venture Technology reports 9.3 times higher FY2024 earnings of $14.4 mil; PAT was up by 96.4% to $10.9 mil

Grand Venture Technology (GVT) has reported earnings – or total comprehensive income for the financial year attributable to owners of the company – of $14.4 million for the FY2024 ended Dec 31, 2024, 9.3 times higher than FY2023’s earnings of $1.5 million, due mainly to record revenue during the year. Earnings per share (EPS) stood at 3.21 cents on a basic and diluted basis.

FY2024 profit after tax (PAT) stood at $10.9 million, 96.4% higher than FY2023’s PAT of $5.5 million. The difference between the total comprehensive income and PAT, however, was due to currency translation differences arising from the consolidation of foreign operations. In FY2024, this stood at a positive $3.5 million compared to a negative translation of $4 million in the year before.