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Results: VEL

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Velocity Composites – argues ‘benefits from investment in growth’ to come through… it looks to need to!

Describing itself as a “leading supplier of composite material kits to aerospace and other high-performance manufacturers”, Velocity Composites (VEL) states that it “is pleased to announce the company's audited results for the twelve months to 31 October 2022”. The shares have though currently responded more than 6% lower to 60p, so how ‘pleased’ should it be?

Velocity Composites – “a major milestone” agreement?

Velocity Composites (VEL) has announced what it emphasises as “a major milestone” – “the signing of a five-year Work Package Agreement with GKN Aerospace in the United States expected to be worth in excess of US$100 million in revenue over five years”. What of a current share price response up more than 57% to 42.5p?

Velocity Composites – trading update, how’s the balance sheet now?

Aerospace and high-performance composite material kits company Velocity Composites (VEL) has announced a trading update including that it “is pleased to report that Velocity's sales for H1 FY22 are in line with management expectations at £5.9 million (H1 FY21: £4.4 million)… look forward to the future with confidence in the long-term prospects”. The shares have currently responded up towards 20p, though are still well down on levels of early this year.


Velocity Composites – there really some “excellent progress” & “a robust level of liquidity”?...

Velocity Composites (VEL) has updated including that it “has made excellent progress in its new business development, particularly with its long-term customers” and that “as a result of the cost restructuring exercise undertaken the board anticipates that going forward the company would be EBITDA break-even at FY2020 levels of revenues. The company is now highly operationally geared, such that any significant recovery in activity, even if only to below pre-pandemic levels, will have a strong positive impact on future profitability”. The shares have currently responded to 13p... approaching 20% lower!...

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