Following the brief but positive AGM statement last week, Surface has issued a fuller pre-close trading update for the half year. H1 revenue increased by 240% to £2.9m; at the upper end of our forecast expectations (i.e., £2.5m-£3m). Gross cash was £6.7m against our estimate for approximately £6m. OEM 8, the Group’s largest customer, is now in full production following a small delay in vehicle start-of-production. Delayed sales have been offset by higher development revenue from other new custom ....
06 Jul 2022
Surface Transforms (SCE LN) - Trading update: profitability guidance reaffirmed
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Surface Transforms (SCE LN) - Trading update: profitability guidance reaffirmed
Surface Transforms PLC (SCE:LON) | 3.0 0 0.0% | Mkt Cap: 10.7m
- Published:
06 Jul 2022 -
Author:
Robin Byde -
Pages:
8
Following the brief but positive AGM statement last week, Surface has issued a fuller pre-close trading update for the half year. H1 revenue increased by 240% to £2.9m; at the upper end of our forecast expectations (i.e., £2.5m-£3m). Gross cash was £6.7m against our estimate for approximately £6m. OEM 8, the Group’s largest customer, is now in full production following a small delay in vehicle start-of-production. Delayed sales have been offset by higher development revenue from other new custom ....