5th Jan 2021 14:37
Surface Transforms PLC - Liverpool-based carbon fibre ceramic brake discs manufacturer - Reports 2020 revenue rose to GBP2.0 million from GBP1.9 million in 2019. Says negotiations with original equipment manufacturers are progressing well and it has continued to win new contracts in each of its OEM, near OEM and retrofit segments. Notes the new machines in OEM production cell one are being commissioned in line with its installation plan to be ready for series volume production in the second quarter of 2021.
"2020 has been transformational for the company with new vehicle nominations and a significant increase in contracted pipeline revenues. Moreover, testing and negotiations with both existing and new OEM clients alike are progressing well and we remain confident of being nominated on further vehicles in the near future. We continue to expect to see the impact of this success in the 2021 results and beyond," says Chair David Bundred.
Current stock price: 52.90 pence
Year-to-date change: up 6.7%
By Zoe Wickens; [email protected]
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