Grand Venture Technology has reported earnings of $2.6 million for its 1QFY2025 ended March, up 27.7% y-o-y. Revenue in the same period was up 44.8% y-o-y to $44.6 million, as net margin compressed from 6.6% to 5.8%.

The company attributes the better numbers to "continued wallet share expansion" with its key customers.

GVT's semiconductor segment was the biggest revenue contributor with $25.6 million, or 57.3% of the total. It was the biggest growth driver too with an increase of 62.4% y-o-y.

GVT's gross margin in 1QFY2025 was "relatively stable" but it got to book a forex loss of $0.4 million, versus a $0.5 million gain in the year-earlier quarter.

In its business update commentary, GVT sees "meaningful upside opportunity" for its semiconductor business. It expects resilient demand from its life sciences customers too.

The company reiterates its target revenue guidance of between $90 million and $96 million for the financial period ending June 30.

Over the weekend on June 1, GVT said it is in “confidential discussions” with a third party relating to a “possible transaction” that may or may not lead to an offer for the shares of the company.

Given the talks, it has put on hold its secondary listing bid on the Bursa.

The announcement sent GVT shares up by around 10%.

GVT's largest shareholder is Novo Tellus, after the investment firm subscribed for more than 71 million shares at 33 cents each back in January 2021.

As indicated in its annual report, as at March 17, Novo Tellus controls 90.5 million shares, equivalent to 26.68% of the company.

GVT shares closed at 92.5 cents on June 3.