Surface Transforms (SCE)

Sector:

Engineering

Index:

FTSE AIM All-Share

0.38p
   
  • Change Today:
      0.020p
  • 52 Week High: 26.10
  • 52 Week Low: 0.34
  • Currency: UK Pounds
  • Shares Issued: 1,302.07m
  • Volume: 29,868,451
  • Market Cap: £4.88m
  • RiskGrade: 375

Surface Transforms shares sink after full-year sales warning

By Benjamin Chiou

Date: Friday 03 Nov 2023

LONDON (ShareCast) - (Sharecast News) - Shares in Surface Transforms tanked over 40% on Friday morning after the brake disc manufacturer slashed its sales guidance due to ongoing challenges in production lines.
Sales for the four months to 31 October were £3m, with October's £1m being the best month of sales this year albeit lower than previously budgeted.

Year-to-date sales total £6.3m, and the company is now guiding to full-year sales of £8.6m, lower than previous guidance.

The stock was down 40.7% at 13.94p by 0814 GMT, having touched a 52-week low of 12.6p in early deals.

"The previously reported technical problems have now been overcome. However, we continue to face some challenges in our production line, including single points of failure and a learning curve on the maintenance of our new equipment," the AIM-listed company said.

"These challenges, which are being resolved, are hindering us from creating sufficient capacity resilience and are constraining our production ramp up."

Surface Transforms said it now expects to reach its rquired rate of production for customer commitments by the first quarter of 2024, later than previously forecast.

"Overall, the outlook for 2024 to 2027 continues to remain very positive reflecting contracts in series production and recent new business announcements, with capacity being installed to fulfil these awards."

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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 0.38p
Change Today 0.020p
% Change 5.63 %
52 Week High 26.10
52 Week Low 0.34
Volume 29,868,451
Shares Issued 1,302.07m
Market Cap £4.88m
RiskGrade 375

SCE Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
70.44% above the market average70.44% above the market average70.44% above the market average70.44% above the market average70.44% above the market average
51.72% above the sector average51.72% above the sector average51.72% above the sector average51.72% above the sector average51.72% above the sector average
Price Trend
98.57% below the market average98.57% below the market average98.57% below the market average98.57% below the market average98.57% below the market average
93.75% below the sector average93.75% below the sector average93.75% below the sector average93.75% below the sector average93.75% below the sector average
Income Not Available
Growth
56.32% above the market average56.32% above the market average56.32% above the market average56.32% above the market average56.32% above the market average
65.52% above the sector average65.52% above the sector average65.52% above the sector average65.52% above the sector average65.52% above the sector average

SCE Dividends

No dividends found

Trades for 04-Oct-2024

Time Volume / Share Price
17:06 250,000 @ 0.38p
16:19 12,024 @ 0.36p
16:14 206,755 @ 0.39p
16:13 439,410 @ 0.38p
16:12 150,000 @ 0.38p

SCE Key Personnel

CEO Kevin Johnson

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