Velocity Composites shares rise 15% on BAE contract renewal

  • Shares in Velocity Composites Ltd (AIM:VEL) rose 15% on Monday morning after the company secured a three-year renewal of its long-standing contract with BAE Systems, the UK's largest defence group. The agreement extends a relationship that began in 2010 and covers the supply of advanced composite material kits for major aerospace programmes, including the F-35 and Typhoon fighter jets.