Surface Transforms (SCE)

Sector:

Engineering

Index:

FTSE AIM All-Share

9.07p
   
  • Change Today:
    -0.13p
  • 52 Week High: 38.40
  • 52 Week Low: 8.15
  • Currency: UK Pounds
  • Shares Issued: 352.07m
  • Volume: 4,000
  • Market Cap: £31.92m
  • RiskGrade: 375

Surface Transforms plummets on revenue downgrade

By Duncan Ferris

Date: Tuesday 07 May 2019

LONDON (ShareCast) - (Sharecast News) - Surface Transforms' (ST) shares dived on Tuesday after the company lowered its full-year revenue expectations due to production delays at OEM (original equipment manufacturer) customers.
The AIM traded ceramic brake disk manufacturer now expects to report full-year revenues of approximately £1.0m, down from £1.4m for the year before, as revenues of approximately £0.25m that had been budgeted for FY19 are now expected to fall in FY20.

The revenues relate to compensation claims for delays with OEM 6's start of production, while three near-OEM customers have also recently suffered either delayed start of production or production problems, threatening £0.35m of FY20 revenues.

Kevin Johnson chief executive of ST, said: "It is always disappointing to be reducing guidance but it is important to stress that none of the above impacts the future potential business with OEM 5 or OEM 3 or the new model at OEM 6. Furthermore the bulk of the changes do not reflect any changes to our ambitions or longer-term expectations in the aircraft or near OEM-market. The company continues to see a significant business in both segments and will continue to vigorously pursue these opportunities."

ST's management also continue to await the outcome of discussions between a landing gear manufacturer, airframe builder and the US Department of Defence regarding its request for pre-funding before undertaking any further work on its aerospace project.

The company had previously budgeted £0.2m revenue in FY20 from this project, but has now removed this income from current forecasts.

Surface Transforms' shares were down 15.69% at 10.96p at 1143 BST.

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Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

Note 2: RiskGrade figures are provided by RiskMetrics.

 

SCE Market Data

Currency UK Pounds
Share Price 9.07p
Change Today -0.13p
% Change -1.45 %
52 Week High 38.40
52 Week Low 8.15
Volume 4,000
Shares Issued 352.07m
Market Cap £31.92m
RiskGrade 375

SCE Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
18.17% above the market average18.17% above the market average18.17% above the market average18.17% above the market average18.17% above the market average
35.29% above the sector average35.29% above the sector average35.29% above the sector average35.29% above the sector average35.29% above the sector average
Price Trend
93.49% below the market average93.49% below the market average93.49% below the market average93.49% below the market average93.49% below the market average
100% below the sector average100% below the sector average100% below the sector average100% below the sector average100% below the sector average
Income Not Available
Growth
51.21% above the market average51.21% above the market average51.21% above the market average51.21% above the market average51.21% above the market average
45.45% above the sector average45.45% above the sector average45.45% above the sector average45.45% above the sector average45.45% above the sector average

SCE Dividends

No dividends found

Trades for 28-Mar-2024

Time Volume / Share Price
08:04 4,000 @ 9.01p

SCE Key Personnel

CEO Kevin Johnson

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