Surface Transforms Share News (SCE)

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Surface Transforms First Half Revenue Better Than Expected

Mon, 07th Dec 2015 09:04

LONDON (Alliance News) - Surface Transforms PLC on Monday said trading in the six months to the end of November beat its expectations, with higher revenue and a narrower loss anticipated.

The company, which manufactures carbon-fibre-reinforced ceramic materials, said its revenue for the half was GBP782,000, compared to GBP623,000 a year earlier, and it expects this to translate into a narrower earnings before interest, taxation, depreciation and amortisation loss for the first half.

The rise in revenue was helped sales catching up after the furnace break down the company suffered in May, with very strong performances in aircraft, retrofit car sales and original equipment revenue.

"These better than expected results are most encouraging," said Chairman David Bundred.

Shares in Surface Transforms were up 7.6% to 23.00 pence early Monday.

By Sam Unsted; samunsted@alliancenews.com; @SamUAtAlliance