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Surface Transforms PLC - Liverpool-based manufacturer of carbon fibre reinforced ceramic materials - Pretax loss widens to £2.5 million on the first half of 2022 from £2.2 million a year before. Total administrative expenses jump 45% to £4.2 million from £2.9 million. Revenue more than doubles to £2.9 million from $1.2 million. Attributes this to increased sales to original equipment manufacturer customers, with a significant increase in development revenue to these same customers. Lifts sales guidance in the three years to 2025 by roughly 10% per year. Notes some ‘offsetting costs’ of roughly £800,000, reflecting additional production overheads to support sales growth.
Current stock price: 47.00 pence, up 4.4% on Monday
12-month change: down 26%
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