IN BRIEF: Velocity Composites interim loss widens; revenue up
11th Jul 2023 10:43
Velocity Composites PLC - Burnley, England-based supplier of composite material kits to aerospace and other high-performance manufacturers, with the kits aiming to reduce all forms of waste from the composites supply chain - Posts revenue of GBP7.0 million for six months ended on April 30, up 19% from GBP5.9 million the year before. Pretax loss widens to GBP1.4 million from GBP710,000, as operating loss widens to GBP1.3 million from GBP626,000 the year before. Administrative expenses increase to GBP2.8 million from GBP2.0 million. Looking ahead, expects to remain on track to achieve profitability in financial 2024. Read More