Velocity Composites sees continued growth at Burnley site

Advanced composite materials kit supplier Velocity Composites updated the market on its trading for the financial year to 31 October on Wednesday.

The AIM-traded company said it saw “continued growth” at both its Burnley site, and its second site in Fareham, Hampshire which became operational in March.

“Key investments have been made in the period in the ongoing delivery and growth of the company, including the hiring of a number of key senior personnel, who will further strengthen the team in delivering its expansion plans,” Velocity’s board said in its statement.

“As anticipated, both revenue and underlying profit are in line with expectations and the company looks forward to providing a full update when it publishes its preliminary year end results on 23 January.”