Velocity Comp Share News (VEL)

Velocity Composites "on track" after interim revenue surges 54%

(Alliance News) - Velocity Composites PLC shares edged higher on Tuesday, after its interim revenue spiked and loss narrowed.

UK earnings, trading statements calendar - next 7 days

EARNINGS AND TRADING: Adnams toasts increase in sales but loss widens

(Alliance News) - The following is a round-up of earnings and trading updates by London-listed companies, issued on Wednesday and not separately reported by Alliance News:

Velocity Composites reports US contract is on track; names new CFO

(Alliance News) - Velocity Composites PLC on Monday reported positive progress on a key US contract.

Velocity Composites loss widens as costs and expenses jump

(Alliance News) - Velocity Composites PLC on Tuesday reported higher revenue in financial 2023, but its loss widened on higher costs and expenses.

UK earnings, trading statements calendar - next 7 days

Velocity Composites finance director steps down; taps interim CFO

(Alliance News) - Velocity Composites PLC on Wednesday said its Financial Director Adam Holden has stepped down.

IN BRIEF: Velocity Composites raises GBP190,000 from another fundraise

Velocity Composites PLC - Burnley, England-based supplier of composite material kits to aerospace and other high-performance manufacturers - Receives additional demand from an unnamed "strategic" investor to invest GBP190,000 via the subscription of 475,000 new shares at an issue price of 40 pence each. Shares are expected to be admitted to trading on AIM in London on Friday.

AIM WINNERS & LOSERS: Abingdon Health rolls out Salistick in Tesco

(Alliance News) - The following stocks are the leading risers and fallers on AIM in London on Tuesday.

IN BRIEF: Velocity Composites' retail offer closes; raises GBP199,000

Velocity Composites PLC - Burnley, England-based supplier of composite material kits to aerospace and other high-performance manufacturers - Reports 497,583 shares will be issued at 40 pence each to existing retail investors following closure of the retail offer, raising around GBP199,000. In total, says GBP1.4 million was raised via a placing, subscription and retail offer with 3.5 million shares issued. Further, company has raised GBP5 million through the issue of 12.5 million enterprise investment scheme/venture capital trust placing shares at 40p. The EIS/VCT placing is subject to shareholder approval at the general meeting on August 29.

Velocity Composites shares drop on GBP6.7 million discounted fundraise

(Alliance News) - Velocity Composites PLC on Wednesday said it plans to raise up to GBP6.7 million through a placing, subscription and retail offer.

AIM WINNERS & LOSERS: CyanConnode wins order; Enteq shares jump

(Alliance News) - The following stocks are the leading risers and fallers on AIM in London on Wednesday.

IN BRIEF: Velocity Composites shares fall on expected earnings loss

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 GBP1.2 million to GBP1.6 million and revenue of around GBP15 million to GBP17 million for the year ending October 31. Anticipates an Ebitda profit of between GBP1.7 million to GBP2.5 million and revenue of GBP30 million to GBP36 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.

IN BRIEF: Velocity Composites interim loss widens; revenue up

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.

UK earnings, trading statements calendar - next 7 days