16th Feb 2015 10:02
LONDON (Alliance News) - Surface Transforms PLC on Monday reported a widened pretax loss for the first half as its cost of sales outpaced a rise in revenue.
The company, which manufacturers carbon fibre reinforced ceramic materials, said its revenue for the six months to the end of November was GBP623,000, up from GBP558,000 a year earlier.
But its cost of sales in the half jumped to GBP330,000 against GBP178,000 a year earlier, bringing its pretax loss for the half to GBP471,000 against GBP373,000 a year ago. The costs were driven up by a rise in research spending associated with the commissioning of a new carbon vapour infiltration plant, the company said.
Shares in Surface Transforms were down 2.0% to 12.00 pence on Monday.
By Sam Unsted; [email protected]; @SamUAtAlliance
Copyright 2015 Alliance News Limited. All Rights Reserved.
Related Shares:
Surface Transforms