StockMarketWire.com - Advanced material supplier to the aerospace sector Velocity Composites posted a first-half loss, owing to the pandemic's impact on the commercial aviation sector.

Pre-tax losses for the six months through April amounted to £1.06 million, compared to year-on-year losses of £0.69 million.

Revenue more than halved to £4.4 million, down from £9.5 million, though the company said it had stablised following the impact of the Covid-19 crisis.

Velocity said it remained on track to move back into positive earnings before interest, tax, depreciation and amortisation during the second half of 2021.


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