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Velocity Composites forecasts first-half loss as revenue sinks | 24 May 2021

24 May 2021 | 07:12am
StockMarketWire.com - Advanced materials provider to the aerospace industry Velocity Composites forecast a first-half loss as the pandemic hurt revenue.
Adjusted earnings before interest, tax, depreciation and amortisation for the six months through April were seen amounting to a loss of £0.5 million, compared to a year-on-year loss of £0.3 million.
Revenue was to more than halve to £4.4 million, down from £9.5 million.
Velocity Composites said organisational restructuring had brought its cost base in line with a target £13.5 million sales breakeven position.
The company added that it was well placed to return to a positive adjusted EBITDA in the second half and in the 2022 financial year, albeit in challenging market conditions . ....

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Velocity Composites sign three-year contract extension | 25 March 2021

Velocity Composites sign three-year contract extension | 25 March 2021
stockmarketwire.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from stockmarketwire.com Daily Mail and Mail on Sunday newspapers.

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