Veris Limited Reports Notable Q1 Profitability Rise

Veris Limited (AU:VRS) has released an update.

Veris Limited has reported a significant uptick in profitability in the first quarter of FY25 with pre-tax profits (PBT) rising to $0.6 million, a notable recovery from a $1.8 million loss in the previous fiscal year. This improvement is attributed to the company’s strategic focus on higher-margin digital and spatial data consulting services and a successful restructuring in the second half of FY24. Despite a slight decrease in revenue, the firm’s focus on selective, high-value projects and a robust balance sheet suggest a continued positive trajectory for the remainder of the year.

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