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The latest update is out from Veem Ltd ( (AU:VEE) ).
VEEM Limited reported its financial results for the half-year ending 31 December 2024, with revenue at $33.6 million and NPAT at $1.0 million, reflecting a challenging period due to decreased defense revenue and delayed orders. Despite a dip in revenue compared to the previous year, the company anticipates improved results in the second half of FY25, driven by the fulfillment of delayed orders, increased propeller contracts, and cost reduction measures. A significant development includes a joint plan with Sharrow to enhance propeller design capabilities, aiming to expand sales to business clients, and a $1 million defense grant to bolster sovereign capacity.
More about Veem Ltd
VEEM Limited is a designer and manufacturer of disruptive, high-technology marine propulsion and stabilization systems catering to the global luxury motor yacht, fast ferry, commercial workboat, and defense industries.
YTD Price Performance: -29.75%
Average Trading Volume: 126,064
Technical Sentiment Consensus Rating: Buy
Current Market Cap: A$115.4M
Learn more about VEE stock on TipRanks’ Stock Analysis page.
