Airbus is expected to increase its production rate for different aircrafts platforms such as the A320 and A350 between FY21 and FY25. Velocity Composites will benefit from this ramp-up of production and the Group has announced three key contract extensions in H1/FY21A. The contract extensions should be a strong financial base for future growth. Over the period, revenue reached c£4.4m representing a c53% reduction YoY due to the COVID-19 impact. In response, the management has reduced Velocity Co ....
30 Jun 2021
Cenkos: Velocity Composites Plc -- Major contracts won despite uncertainties
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Cenkos: Velocity Composites Plc -- Major contracts won despite uncertainties
Velocity Composites Plc (VEL:LON) | 30.0 0.3 3.4% | Mkt Cap: 16.0m
- Published:
30 Jun 2021 -
Author:
Peter Renton -
Pages:
7
Airbus is expected to increase its production rate for different aircrafts platforms such as the A320 and A350 between FY21 and FY25. Velocity Composites will benefit from this ramp-up of production and the Group has announced three key contract extensions in H1/FY21A. The contract extensions should be a strong financial base for future growth. Over the period, revenue reached c£4.4m representing a c53% reduction YoY due to the COVID-19 impact. In response, the management has reduced Velocity Co ....