5th Sep 2022 12:44
Surface Transforms PLC - Liverpool-based manufacturer of carbon fibre reinforced ceramic materials - Pretax loss widens to GBP2.5 million on the first half of 2022 from GBP2.2 million a year before. Total administrative expenses jump 45% to GBP4.2 million from GBP2.9 million. Revenue more than doubles to GBP2.9 million from USD1.2 million. Attributes this to increased sales to original equipment manufacturer customers, with a significant increase in development revenue to these same customers. Lifts sales guidance in the three years to 2025 by roughly 10% per year. Notes some "offsetting costs" of roughly GBP800,000, reflecting additional production overheads to support sales growth.
Current stock price: 47.00 pence, up 4.4% on Monday
12-month change: down 26%
By Abby Amoakuh; [email protected]
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