Trading Update

RNS Number : 6776V

Surface Transforms PLC

17 December 2013

 

Surface Transforms Plc ("Surface Transforms" or the "Company")

Trading Update

Surface Transforms (AIM: SCE) is pleased to announce that trading in the six months ended 30 November 2013 was in line with management's expectations.

Turnover for the period was £558k (2012: £405k) being a significant 38% higher than the corresponding period last year with our technology transfer agreement and race car markets contributing to the growth. Cash at the period end was £375k (2012: £391k).

David Bundred, Chairman, said "It is encouraging to report a significant increase in sales consistent with the Board's target of EBITDA break even in the current financial year. Good progress is also being made on longer term "game changer" strategic contracts as well as the more immediate retrofit market opportunities. In respect to this latter segment, the Company is in advanced discussions on opening complementary new distribution channels into the growing track-day market; a potentially significant underpinning to the short term break even goal." 

The Company expects to report the interim results for the six months ended 30 November 2013 in January 2014.

Enquiries:

Surface Transforms plc

Dr. Kevin Johnson, CEO	[phone]
David Bundred, Chairman	[phone]

Cantor Fitzgerald Europe

David Foreman, Rick Thompson (Corporate Finance)	[phone]
Paul Jewell (Corporate Broking)

 

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