Half year profit of $3.5 million.
That's $7 million if simply doubled for an annual profit.
Market cap of $220 million-ish for a PE ratio of 30.
That's before they actually start shipping the Sharrow propellers.
30% lower fuel consumption is a game changer! If they can get their production volumes up to something decent, this could be a company maker.
I saw their MD at the ASX small and mid cap conference. Previously saw this propeller on youtube and other media. Prior to yesterday, did not realize an Australian company was going to be the exclusive license to produce these.
Bought my first bunch of shares today.
Ann: VEEM Reports Strong Profit Growth for 1HFY24, page-30
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