Source - Alliance News

Velocity Composites PLC - England-based supplier of composite material kits to aerospace and other high-performance manufacturers - Expects a loss in earnings before interest, tax, depreciation and amortisation of £1.2 million to £1.6 million and revenue of around £15 million to £17 million for the year ending October 31. Anticipates an Ebitda profit of between £1.7 million to £2.5 million and revenue of £30 million to £36 million for financial 2024. Adds it has rehired Kevin Hickey as chief operating officer, whom previously worked at the company from 2017 to 2020. Also notes it is in talks with an unnamed global composites manufacturer.

Current stock price: 43.90 pence, down 13% on Wednesday

12-month change: up by more than double

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