VEEM Ltd Reports Non-Audit Reviewed Revenue Results for the Six Months to December 31, 2016; Provides Earnings Guidance for the Six Months to December 31, 2016
The company provided earnings guidance for the six months to December 31, 2016. The company announced that based on non-audit reviewed management accounts for the six months to December 31, 2016, pro-forma net profit after tax (NPAT) for first half of fiscal 2017 is expected to be in the range of $2.25 million to $2.45 million, which is in line with the prospectus forecast of $2.40 million. Statutory NPAT (including one off IPO costs) is expected to be in the range of $1.1 million to $1.3 million (prospectus forecast $2.05 million) due to higher than expected IPO costs.