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The latest announcement is out from Velocity Composites Plc ( (GB:VEL) ).
Velocity Composites plc announced a significant increase in revenue for FY24, driven by a strong performance in the US market, resulting in a positive adjusted EBITDA for the first time since the pandemic. The company is poised for growth in FY25, bolstered by expected increases in global aerospace production rates and its strategic focus on operational efficiency and service delivery, despite earlier industry-wide production delays.
More about Velocity Composites Plc
Velocity Composites plc, based in Burnley, UK, is a leading supplier of composite material kits to the aerospace industry, focusing on cost reduction and sustainability. Their clients include major companies like BAE Systems, Airbus, Boeing, and Rolls Royce. The company is expanding its reach into new markets such as wind energy and electric vehicles, where demand for composites is growing.
YTD Price Performance: -40.82%
Average Trading Volume: 52,420
Technical Sentiment Consensus Rating: Buy
Current Market Cap: £11.56M
Find detailed analytics on VEL stock on TipRanks’ Stock Analysis page.
