The Group made robust strategic progress in the first four months of H1/20A. It secured several contract renewals, new aerospace qualifications and won new business with a major Boeing parts supplier. Operations were impacted in the last two months of H1/20A by COVID-19. In response to a decline in short-term demand, management efficiently implemented cost controls and a strict inventory reduction programme to support liquidity.
23 Jun 2020
Cenkos: Velocity Composites Plc -- Long-term growth outlook intact
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Cenkos: Velocity Composites Plc -- Long-term growth outlook intact
Velocity Composites Plc (VEL:LON) | 29.5 0 0.0% | Mkt Cap: 15.8m
- Published:
23 Jun 2020 -
Author:
Cavendish Research -
Pages:
6
The Group made robust strategic progress in the first four months of H1/20A. It secured several contract renewals, new aerospace qualifications and won new business with a major Boeing parts supplier. Operations were impacted in the last two months of H1/20A by COVID-19. In response to a decline in short-term demand, management efficiently implemented cost controls and a strict inventory reduction programme to support liquidity.