Surface Transforms has provided a brief pre-close and operational update. Revenue for 2021a grew by 20% to £2.4m (2020a: £2m and versus guidance of “under £3m”). Gross cash was a healthy £13m (in line) but with drawdown for further capex spend due shortly. On the production ramp-up, the Group has reported that daily assembly volumes have reached management targets. The specific production issue on the furnace described in the announcement on 14 December has been fixed, with “satisfactory” produc ....
28 Jan 2022
Surface Transforms (SCE LN) - Positive trading update
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Surface Transforms (SCE LN) - Positive trading update
Surface Transforms PLC (SCE:LON) | 3.0 0 (-6.2%) | Mkt Cap: 10.7m
- Published:
28 Jan 2022 -
Author:
Robin Byde -
Pages:
5
Surface Transforms has provided a brief pre-close and operational update. Revenue for 2021a grew by 20% to £2.4m (2020a: £2m and versus guidance of “under £3m”). Gross cash was a healthy £13m (in line) but with drawdown for further capex spend due shortly. On the production ramp-up, the Group has reported that daily assembly volumes have reached management targets. The specific production issue on the furnace described in the announcement on 14 December has been fixed, with “satisfactory” produc ....