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!...

