Veris Limited (AU:VRS) has released an update.
Don't Miss our Black Friday Offers:
- Unlock your investing potential with TipRanks Premium - Now At 40% OFF!
- Make smarter investments with weekly expert stock picks from the Smart Investor Newsletter
Veris Limited faced significant financial challenges in FY24, with an 8.2% revenue decrease and a statutory loss after tax of $4.7 million, primarily due to adverse market conditions and one-off external factors. Despite this, the company’s balance sheet remains strong with $16.1 million in cash reserves, and it has implemented substantial restructuring to align with a national operating model, focusing on scaling digital solutions and spatial advisory services. These efforts have already begun to show positive results in the subsequent quarter, highlighted by a prestigious project award and recognition as a leader in spatial advisory services.
For further insights into AU:VRS stock, check out TipRanks’ Stock Analysis page.
