The trading update highlights recent technical issues have been resolved with a significant ramp up in production over recent weeks. Q1 trading therefore sees revenue of £1.4m, and a quarterly loss. The extent to which production can catch up will determine FY23 profits, but the Q1 production shortfall is expected to affect FY23 forecasts. This prompts us to reduce our forecasts for FY23 and FY24. While today’s news is unfortunate, operational issues have been resolved and cash is sufficient for ....
03 Apr 2023
Surface Transforms - Trading update: problems rectified, with output now ramping
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Surface Transforms - Trading update: problems rectified, with output now ramping
Surface Transforms PLC (SCE:LON) | 1.2 0 4.4% | Mkt Cap: 6.49m
- Published:
03 Apr 2023 -
Author:
David Buxton | Michael Clifton -
Pages:
5
The trading update highlights recent technical issues have been resolved with a significant ramp up in production over recent weeks. Q1 trading therefore sees revenue of £1.4m, and a quarterly loss. The extent to which production can catch up will determine FY23 profits, but the Q1 production shortfall is expected to affect FY23 forecasts. This prompts us to reduce our forecasts for FY23 and FY24. While today’s news is unfortunate, operational issues have been resolved and cash is sufficient for ....