Verbrec Announces Strong Financial Recovery in FY2024

Verbrec Ltd (AU:VBC) has released an update.

Verbrec Limited has reported a significant turnaround in its FY2024 results with a 24.2% increase in gross profit and a robust 174.2% rise in after-tax profit from continuing operations. The company’s divestiture of unprofitable segments has strengthened its financial standing, leading to the highest EBITDA and NPAT figures since 2015 and compliance with all banking covenants. This marks a period of strong financial recovery and improved margins for Verbrec.

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