(Alliance News) - Surface Transforms PLC on Tuesday said its revenue grew in 2024 despite issues around cash constraints in the fourth quarter impacting its yield. Read More
Surface Transforms PLC - Liverpool-based producer of carbon-ceramic automotive brake discs - Says Non-Executive Chair Andrew Kitchingman has resigned with immediate effect, having only been in the role since September 16. Kitchingman had replaced David Bundred, and is also chair of Mpac Group PLC and senior independent non-executive director of London Security PLC and Andrews Sykes Group PLC. Read More
(Alliance News) - The following stocks are the leading risers and fallers on AIM on Wednesday. Read More
(Alliance News) - The following is a round-up of London-listed company director and manager changes announced recently and not separately reported by Alliance News: Read More
(Alliance News) - The following is a round-up of earnings for London-listed companies, issued on Monday and not separately reported by Alliance News: Read More
(Alliance News) - Stock prices in London remained lower at midday on Monday following GDP data, though the news of the day remained stimulus efforts in Beijing. Read More
(Alliance News) - The following stocks are the leading risers and fallers on AIM on Monday. Read More
(Alliance News) - Stock prices in Europe ended lower on Friday, rounding off a difficult week with another decline, as a global IT outage hit a variety of shares, including the travel sector. Read More
(Alliance News) - Surface Transforms PLC shares jumped on Friday as the producer of carbon‐ceramic automotive brake discs hailed a "recent significant increase in daily output levels". Read More
Surface Transforms PLC - Liverpool-based producer of carbon‐ceramic automotive brake discs - Reports after tax loss of GBP19.6 million, widened from GBP5.3 million in 2022. Loss per share also widens to 7.92 pence from 2.58 pence in 2022. Had revenue of GBP7.3 million, up 81% from GBP4.0 million in 2022. Gross margin was down 700 basis points to 57% from 64% in 2022. Company notes research costs increased to GBP9.7 million from GBP5.6 million in 2022. Total cash at December 31 was GBP6.1 million. Says results reflect continued insufficient capacity to meet demand in part due to delays in plant construction. Had GBP5.8 million of fixed asset capital expenditure in the year. Expects process capability work to maintain momentum in the first half of 2024 and accelerated growth in second half. Remains committed to goal of generating GBP100 million in annual sales within the next five years. Read More
Surface Transforms PLC - Liverpool-based manufacturer of carbon-ceramic brake discs for automotive and aircraft applications - Says audit of statutory accounts for 2023 is ongoing, and it expects to publish final results in late June. Says main contributors to the extended timeline are impairments to the carrying value of certain intangible and tangible assets, and revenue recognition delays. The latter mainly relates to revenue generated from engineering, testing and tooling services provided to OEM customers during the contract's development phase. Regarding impairments, Surface Transforms "has applied a significantly higher discount rate in its assessment of its intangible assets and whether there is any indication of impairment"; as for tangible assets it "has identified that a particular furnace was not performing to contracted specification" and does not believe a cost-effective solution is possible. Expects to recognise an estimated GBP6.2 million non-cash impairments to intangible assets, and GBP3.0 million to tangible assets. Company also says it has re-assessed its revenue recognition policy, which will result in development revenues being recognised upon completion of system integration by the OEM or when control is passed over for the contracted services, as opposed to in line with work performed and percentage completed. It expects this change to transfer around GBP2.0 million in total from 2023 into future years. Read More
(Alliance News) - The following stocks are the leading risers and fallers on AIM in London on Tuesday. Read More
(Alliance News) - The following is a round-up of updates by London-listed companies, issued on Friday and not separately reported by Alliance News: Read More
(Alliance News) - The following is a round-up of updates by London-listed companies, issued on Wednesday and Thursday and not separately reported by Alliance News: Read More
(Alliance News) - The following stocks are the leading risers and fallers on AIM in London on Thursday. Read More
(Alliance News) - Surface Transforms PLC on Wednesday said it plans to raise GBP8.5 million. Read More
(Alliance News) - Surface Transforms PLC on Wednesday eyed annual sales growth, despite constrained first quarter. Read More
(Alliance News) - Equities in London lacked impetus heading into Tuesday, as investors moved with caution ahead of a US inflation print on Wednesday and the European Central Bank's interest rate decision a day later. Read More
(Alliance News) - Shares in Surface Transforms PLC sank on Tuesday, after the company said it was continuing to remedy production problems at its Liverpool site and announced a delay to the publication of its 2023 financial results. Read More
(Alliance News) - Surface Transforms PLC on Monday maintained its revenue guidance for 2024 as it hailed a "very positive" outlook for 2024 to 2027. Read More