- Velocity Composites said it had contracted around £27.5m of revenue for the current financial year through October, representing around 79% of current market expectations for the full year.

'Velocity has started to benefit from economies of scale and this will drive further cost savings, both for the company and its customers,' chairman Mark Mills told the company's annual general meeting.

At 10:01am: [LON:VEL] Velocity Composites Plc share price was -8.5p at 71.5p

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