Veem Ltd (AU:VEE) has released an update.
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VEEM Ltd has adjusted its financial expectations for the first half of FY25, forecasting a revenue range of $33m to $35m, with profit margins expected to rebound in the second half of the year. The company has implemented cost reduction measures and secured a $5 million loan extension to support its operations. With new orders and a $1 million government grant for facility expansion, VEEM anticipates improved profitability moving forward.
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