The big question that should be answered in the Veris half year report will be the earnings for the Aqura business, I was disappointed when the Elton Consulting business was sold of a $4 million loss when it was producing circa $1.5 million EBITDA every six months. Hopefully Aqura Technologies will do close to the $1.5 m that Elton Consulting was producing. This would provide some vindication for the sale of a key strategic asset. The cash position should also be interesting with the $13 million plus that came for the sale of Elton, hopefully they might have some Surveying acquisitions lined up for EBITDA growth and to give Veris some Surveying talent to run the business or better still to join the Board. Veris still has to get a Surveyor on the Board if they believe in the Surveying strategy.
I like the Surveying roll up strategy and remain a holder of this stock. Veris just needs a Board and Leadership that understands what it takes to run a national surveying business.
VRS Price at posting:
6.5¢ Sentiment: None Disclosure: Held
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