SCE has raised £1.3m (net) to fund working capital in case the business is materially impacted by the pandemic. It is also looking to raise a further £0.3m in an open offer. Recent results highlighted that trading was strong and in line with expectations; however, the pandemic clearly increases the risks to our FY2020E forecasts and, given the current elevated uncertainties, we have decided to put our forecasts and target price under review. We would highlight that commercial prog
09 Apr 2020
Surface Transforms - SCE raises COVID fighting fund
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Surface Transforms - SCE raises COVID fighting fund
Surface Transforms PLC (SCE:LON) | 3.3 0 (-4.3%) | Mkt Cap: 11.6m
- Published:
09 Apr 2020 -
Author:
Michael Clifton | Cavendish Research -
Pages:
3
SCE has raised £1.3m (net) to fund working capital in case the business is materially impacted by the pandemic. It is also looking to raise a further £0.3m in an open offer. Recent results highlighted that trading was strong and in line with expectations; however, the pandemic clearly increases the risks to our FY2020E forecasts and, given the current elevated uncertainties, we have decided to put our forecasts and target price under review. We would highlight that commercial prog