Ann: VEEM Reports Strong Profit Growth for 1HFY24, page-2

As expected, fantastic results by Veem.
On track for EBITDA of $14m and $7m NPAT.
Strong increase in the interim dividend as well.

In reality the business is strong, with great opportunities across every division
- Gyro sales on hand look good too and the commentary about market interest was interesting. I think margins are improving significantly here too with the Strategic Marine being the anchor order that we need to make this division humm!
- Propulsion continues to be strong, but will really dominate once the Sharrow by Veem sales kick in
- Engineering just keeps ticking away with Hollow Bar growth
- Defence is a solid performer and the opportunities in front of Veem are only getting bigger!

My main concern is still a takeover if the founders are looking for an exit for their holding.