Marine technology company VEEM has substantially revised down its earnings outlook for the current half-year but expects a strong rebound in the second half after overcoming delays.
Shares in Canning Vale-based VEEM closed trade up 10 per cent to $1.09 on Tuesday, following news it had signed a six-year, $65 million defence contract renewal with ASC.
Today's board moves wrap includes John Rothwell, Richard Spencer, Lincoln Liu, Mauro Piccini, Troy Flannery, Trevor Raman, Tino Kapfumo, David Rich, Mark Miocevich and Amit Kamlesh Kumar Mehta.
Marine technology company VEEM has secured a $9 million order from the Australian Submarine Corporation for specialised parts for the Collins-class submarine maintenance program.
Marine technology company VEEM has today launched a new gyrostabiliser and a facility with the capacity to produce more than $100 million worth of gyros a year to cater for an anticipated uptick in demand.
Marine technology company VEEM has signed a contract with Netherlands-based Damen Shipyards to supply its newest stabilisation system, subject to successful sea trials.
Marine technology company VEEM has delivered its first full-year results since listing on the ASX in October, with a better-than-expected normalised profit.
Canning Vale-based Veem says it will meet its forecast net profit target of $4 million when it reveals its first full-year results as a listed company.
Marine-focused engineering business VEEM has enjoyed a solid debut on the ASX today, with shares closing 20 per cent higher on its initial public offering price.
SPECIAL REPORT: The stock market's appetite for new listings is allowing a range of companies, from family-owned engineering firm Veem to big national player Alinta Energy, to raise capital.
Engineering business VEEM is forecasting strong growth in revenue in the current financial year but a fall in profit, the family owned company has disclosed in the prospectus for its $25 million initial public offering.
