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 expecting decent sales growth

By Josh White

Date: Wednesday 17 Apr 2024

LONDON (ShareCast) - (Sharecast News) - Carbon fibre-reinforced ceramic disc brake materials manufacturer Surface Transforms provided detailed sales guidance for 2024 on Wednesday, in response to shareholder demand for a 'worst case' forecast.
The AIM-traded firm said sales were expected to see significant growth, with an anticipated minimum increase of 111% and a maximum increase of 165% compared to the 2023 financial year sales of £8.3m.

That projection would cause a projected sales range of £17.5m to £22m for the year.

The sales outlook for 2024 was contingent on a number of factors, including progress in reducing scrap, expanding manufacturing capacity, and the timely delivery to customers.

Sales in the first quarter were constrained primarily due to scrap and limited manufacturing capacity.

However, significant progress was achieved in reducing scrap, with expectations for continued improvement throughout 2024.

Additionally, efforts to expand capacity were currently underway, and expected to contribute to sales growth.

The board said the operational activities would increase capacity, and also present opportunities to offer a more favourable product mix to customers, further driving sales growth.

Surface Transforms said it had detailed plans in place to continue advancing its operational activities, with the pace of progress influencing the current spread in projected 2024 sales, estimated to be about 20%.

As operational activities progressed and deliveries to customers were made, the firm said anticipated the sales range to narrow.

Updates on progress would thus be provided throughout the year to keep stakeholders informed.

"We are providing this range of outcomes for the year, in response to shareholder request for 'worst case scenarios'," said chief executive officer Kevin Johnson.

"We remain committed to achieving the higher end of this range."

At 0844 BST, shares in Surface Transforms were down 4.36% at 3.73p.

Reporting by Josh White for Sharecast.com.

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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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