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.
VEE Price at posting:
$1.20 Sentiment: Buy Disclosure: Held
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