After a difficult year, FY 2018 results were slightly better than reduced expectations, still achieving sales growth of 15% in the year. H2 performance was a marked improvement on H1. Operational progress has continued, with contracted business now £67m, albeit new wins are at a slower rate than anticipated at IPO. Forecasts remain under review, with an outlook pointing to a similar level of revenue and gross margin as 2018.
22 Jan 2019
Velocity Composites - Full-year results
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Velocity Composites - Full-year results
Velocity Composites Plc (VEL:LON) | 29.5 0 0.0% | Mkt Cap: 15.8m
- Published:
22 Jan 2019 -
Author:
David Buxton -
Pages:
9
After a difficult year, FY 2018 results were slightly better than reduced expectations, still achieving sales growth of 15% in the year. H2 performance was a marked improvement on H1. Operational progress has continued, with contracted business now £67m, albeit new wins are at a slower rate than anticipated at IPO. Forecasts remain under review, with an outlook pointing to a similar level of revenue and gross margin as 2018.