Velocity Composites Plc (GB:VEL) has released an update.
Velocity Composites Plc has announced a 40% year-on-year revenue growth forecast for FY24 despite facing short-term production delays in the US and UK, with a minimum expected revenue of £22.8m and a positive EBITDA. The company has completed key supplier agreements and a contract renewal with a major UK customer on the A350 programme, ensuring continued growth and strategic partnerships. Velocity remains optimistic about overcoming current challenges and projects substantial revenue growth in FY25.
For further insights into GB:VEL stock, check out TipRanks’ Stock Analysis page.