The first four months of FY20E showed good strategic progress. The Group won new business with a major Boeing parts supplier and gained new aerospace qualifications. However, current market conditions have caused disruption throughout the global aerospace supply chain. This has caused Velocity's customers to reduce short-term demand as they cut production rates to deal with disruption to their workforce availability due to the COVID-19 restrictions. As a result, we are withdrawing our forecasts ....
30 Mar 2020
Cenkos: Velocity Composites Plc -- Long-Term Prospects Unchanged
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Cenkos: Velocity Composites Plc -- Long-Term Prospects Unchanged
Velocity Composites Plc (VEL:LON) | 31.0 -0.6 (-6.1%) | Mkt Cap: 16.6m
- Published:
30 Mar 2020 -
Author:
Cavendish Research -
Pages:
5
The first four months of FY20E showed good strategic progress. The Group won new business with a major Boeing parts supplier and gained new aerospace qualifications. However, current market conditions have caused disruption throughout the global aerospace supply chain. This has caused Velocity's customers to reduce short-term demand as they cut production rates to deal with disruption to their workforce availability due to the COVID-19 restrictions. As a result, we are withdrawing our forecasts ....