Hardman & Co Research : Surface Transforms ...

Hardman & Co Research Hardman & Co Research : Surface Transforms (SCE): Recent major contract wins transform prospects 25-Oct-2019 / 12:56 GMT/BST Hardman & Co Research: Recent major contract wins transform prospects  ST's results, announced 9 September, were in line with expectations. Since then, ST has secured a further £0.4m revenue, prompting us to upgrade FY19 PBT estimates by £0.25m. Historical results do not reflect a series of substantial new contracts won, post May 2019 year-end, which have transformed the company. It now has multi-year, multi-million, recurring income contracts from Europeanbased global OEMs. Revenue from one commences October 2021, with start of production (SOP) for the other towards the end of calendar 2021. These will support EBITDA-positive (post-tax credit) for 2020 and profitability in 2022.  Please click here for the full report: https://www.hardmanandco.com/research/corporate-research/recent-major-contract-wins-transform-prospects/   To contact us: Hardman & Co 35 New Broad Street London EC2M 1NH www.hardmanandco.com Follow us on Twitter @HardmanandCo Contacts: Mike Foster   [phone]   [e-mail]   Hardman & Co Research can still be accessed for free after MiFID II. Please click here to read the statement. About Hardman & Co: For the past 21 years Hardman has been producing specialist research designed to improve investors' understanding of companies, sectors, industries and investment securities. Our analysts are highly experienced in their sectors, and have often been highly rated by professional investors for their knowledge.  Our focus is to raise companies' profiles across the UK and abroad with outstanding research, investor engagement programmes and advisory services. Some of our notes have been commissioned by the company which is the subject of the note; this is clearly stated in the disclaimer where this is the case. Hardman Research Ltd, trading as Hardman & Co, is an appointed representative of Capital Markets Strategy Ltd and is authorised and regulated by the Financial Conduct Authority; our FCA registration number is 600843. Hardman Research Ltd is registered at Companies House with number 8256259. Our research is provided for the use of the professional investment community, market counterparties and sophisticated and high net worth investors as defined in the rules of the regulatory bodies.  It is not intended to be made available to unsophisticated retail investors. Anyone who is unsure of their categorisation should consult their professional advisors. This research is neither an offer, nor a solicitation, to buy or sell any security. Please read the note for the full disclaimer.   Dissemination of a CORPORATE NEWS, transmitted by EQS Group. The issuer is solely responsible for the content of this announcement.

End of Announcement - EQS News Service

897473  25-Oct-2019