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Why Did VEEM’s Profit Plunge 57% Despite a $65M ASC Contract Win?
9:02pm on Friday 29th of August, 2025 AEST
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Manufacturing
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Why Did VEEM’s Profit Plunge 57% Despite a $65M ASC Contract Win?
9:02pm on Friday 29th of August, 2025 AEST
Key Points
Revenue down 15% to AUD 68.6 million
Net profit after tax fell 57% to AUD 3.0 million
6-year, $65 million ASC submarine contract extension secured
Continued capital investment and R&D, including gyro product upgrades
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Veem (ASX:VEE)
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