Surface Transforms PLC Trading Statement & Investor Presentation (4129T)
20 July 2020 - 4:00PM
UK Regulatory
TIDMSCE
RNS Number : 4129T
Surface Transforms PLC
20 July 2020
The information communicated within this announcement is deemed
to constitute inside information as stipulated under the Market
Abuse Regulations (EU) No. 596/2014. Upon the publication of this
announcement, this inside information is now considered to be in
the public domain.
20 July 2020
Surface Transforms plc.
("Surface Transforms" or the "Company")
Pre Close Trading Statement
&
Investor Presentation
Surface Transforms (AIM: SCE), manufacturers of carbon fibre
reinforced ceramic materials, is pleased to provide the following
trading update for the six months to 30 June 2020.
Revenue for the six-month period grew 55% to GBP902k (six months
to June 2019: GBP581k). This revenue growth was achieved despite
the impact of COVID-19 on the Company and our customers. Cash at 30
June was GBP2,018k (December 2019: GBP770k) to which can be added
the R&D tax credit, in excess of GBP300k, expected in September
2020.
The Company expects to report its interim results for the six
months ended 30 June 2020 in September 2020.
Progress with Potential OEM Customers and New Capital
Equipment
The Company updated shareholders on progress with customers and
operations in the recent statement issued on 22 June 2020. It is
encouraging to report that since that date all key customer
personnel have now returned from furlough and with unchanged
objectives for the contract opportunities for the Company.
David Bundred (Chairman) commented: "This sales performance is
most encouraging against the background of the most difficult
economic conditions in recent memory. The combination of this
performance and our most recent customer discussions enables the
Company to reiterate the key outlook statements made in the 22 June
2020 announcement. The Company remains on track to reach positive
adjusted EBITDA in 2021, report a profit before tax in 2022, and
still expects to make further new contract announcements during
2020."
Investor Presentation - 9:40am on 24 July 2020
As previously announced by the Company on 26 June 2020,
following completion of the forthcoming AGM that will start at
9:30am on 24 July 2020 and expected to finish at 9.40am, Kevin
Johnson, CEO, will provide an online presentation on the business.
Access will be available through the Investor Meet Company
platform. The online presentation is open to all existing and
potential shareholders alike. It will be possible to ask online
questions of the Board both before and during the presentation. To
attend this online presentation, investors can sign up to Investor
Meet Company for free via
https://investormeetcompany.com/surface-transforms-plc/register-investor
and register their attendance. For those investors who have already
registered and added to meet the Company, they will automatically
be invited.
For enquiries, please contact:
Surface Transforms plc. +44 151 356 2141
David Bundred, Chairman
Kevin Johnson, CEO
Michael Cunningham CFO
Zeus Capital Limited (Nominated Adviser and Joint Broker) +44 203 829 5000
Dan Bate / David Foreman / Jordan Warburton (Corporate
Finance)
Dominic King (Corporate Broking)
finnCap Ltd (Joint Broker) +44 20 7220 0500
Ed Frisby/Giles Rolls (Corporate finance)
Richard Chambers (ECM)
For further Company details, visit www.surfacetransforms.com
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
TSTEALXNFSXEEFA
(END) Dow Jones Newswires
July 20, 2020 02:00 ET (06:00 GMT)
Surface Transforms (LSE:SCE)
Historical Stock Chart
From Apr 2024 to May 2024
Surface Transforms (LSE:SCE)
Historical Stock Chart
From May 2023 to May 2024