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Surface Transforms posts first-half loss; reaffirms upgraded sales guidance

By BFN News | 09:05 AM | Monday 28 September, 2020


Break disc manufacturer Surface Transforms posted a first-half loss after rising sales were offset by R&D spending. The company stuck to its recently upgraded annual sales guidance, citing a strong-than-expected performance this year. Pre-tax losses for the six months through June amounted to £1.45 million, compared to losses of £1.53 million on-year. Revenue rose 55% to £0.90m. Surface Transforms did not declare an interim dividend. 'Despite the Covid 19 lockdown, trading has been better-than-expected,' the company said. 'As a result, the company reiterates that it now anticipates current 2020 financial year revenues will be approximately £2.0m.' At 9:05am: (LON:SCE) Surface Transforms PLC share price was +2p at 45p Story provided by StockMarketWire.com

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