The group has announced an encouraging half-year trading update, with revenue growth ahead of Board expectations and a strong recovery in gross margins continuing, resulting in EBITDA close to breakeven. Cash flow has been broadly neutral with net cash remaining at £4.1m. The process of Board renewal is continuing. We resume near-term forecasts now that trading has been stabilised. Having experienced a significant share price reduction, the restoration of gross margins coupled with some
09 May 2019
Encouraging trading update, resumption of forecasts
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Encouraging trading update, resumption of forecasts
Velocity Composites Plc (VEL:LON) | 29.5 0 0.0% | Mkt Cap: 15.8m
- Published:
09 May 2019 -
Author:
David Buxton -
Pages:
3
The group has announced an encouraging half-year trading update, with revenue growth ahead of Board expectations and a strong recovery in gross margins continuing, resulting in EBITDA close to breakeven. Cash flow has been broadly neutral with net cash remaining at £4.1m. The process of Board renewal is continuing. We resume near-term forecasts now that trading has been stabilised. Having experienced a significant share price reduction, the restoration of gross margins coupled with some