Velocity Composites plc Provides Revenue Guidance for the Six Months to April 30, 2020; Unable to Provide Financial Guidance for the Fiscal Year 2020 and 2021
The Board believes that there will be a material contraction in the worldwide demand for and manufacture of new civil aircraft over the medium term, then a slow recovery back to pre COVID-19 forecasts within three years. Given the lack of short-term visibility on the longevity of UK and international lockdown restrictions, the Board continues to be unable to provide financial guidance on the Company's expected performance in fiscal year 2020 and fiscal year 2021.