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Surface Transforms PLC on Tuesday said revenue jumped 72% in the first half of 2025, as the carbon-ceramic brake disc maker benefited from significantly improved manufacturing yields and better operational performance. Shares in Surface Transforms were up 50% at 1.39 pence in London on Tuesday morning. The Liverpool-based firm expects revenue for the six months to June 30 to total around £8.1 million, up from £4.7 million a year before. The company said the increase was driven by a ‘pivotal change in manufacturing yield and output,’ with average yield improving to 77% in the second quarter, from 49% in the first. Chief Executive Officer Kevin Johnson said the company has focused on operational turnaround and cash management since November 2024. ‘During the second quarter we started to deliver sustainable improvements in output, yield and quality and we are cautiously confident this level of performance will be maintained in the second half of the year and beyond,’ Johnson said. ‘We remain mindful that there is room for further operational improvements which in turn will ease the financial stress the business has endured.’ Second-half revenue is forecast to rise around 20% compared to the first, while gross cash at June 30 increased to £1.2 million from £500,000 at the end of December. Surface Transforms expects year-end cash to be around £1.0 million, supported by anticipated VAT and research & development tax receipts totalling £2.5 million. Total customer cash advances stood at £12.9 million at mid-year, with repayments expected to begin in the second half. The company also continued drawing from its £13.2 million ERDF loan, using £9.8 million so far for capital expenditure. Separately, Surface Transforms announced the departure of Chief Operating Officer Stephen Easton. He will be replaced on August 1 by Gareth Laker, the company’s manufacturing technology manager, who has been ‘a key member of the team’ in driving the recent operational improvements, the company said. Copyright 2025 Alliance News Ltd. All Rights Reserved.
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