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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.

EPIC VEL
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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!...

EPIC VEL
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Velocity Composites – less than a year since AIM IPO, it’s another profit warning!

In May last year CEO of aerospace industry material kits company Velocity Composites (VEL), Jon Bridges, was “delighted to announce the successful completion of our admission to the London Stock Exchange… look forward to our future as a quoted company with confidence”. That was at an 85p per share IPO price. The shares are currently 55p after a latest “Trading Update”

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