We initiate coverage on Velocity following its recent IPO and £10m (£9.2m net) equity placing. Our initiation coincides with the group’s interim results, trading at broadly breakeven in the first half with the second half expected to be profitable with the benefits of capacity expansion and output growth from additional aircraft programmes. Velocity is an exciting growth stock, which has an almost unique product offering and strong market position in the rapidly growing aero
27 Jun 2017
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Velocity Composites Plc (VEL:LON) | 31.0 0 0.0% | Mkt Cap: 16.6m
- Published:
27 Jun 2017 -
Author:
David Buxton -
Pages:
48
We initiate coverage on Velocity following its recent IPO and £10m (£9.2m net) equity placing. Our initiation coincides with the group’s interim results, trading at broadly breakeven in the first half with the second half expected to be profitable with the benefits of capacity expansion and output growth from additional aircraft programmes. Velocity is an exciting growth stock, which has an almost unique product offering and strong market position in the rapidly growing aero