VEEM weathers choppy seas to make good progress
Perth marine engineering group VEEM has grown profits in the latest financial year despite the cyclical nature of some of its big ticket defence contracts. The company, which manufacturers ships propellers, drive shafts and stabilising gyro systems, recorded net profit after tax of $2.76 million in 2019, up $500,000, on turnover of $40.7 million. EBITDA…