Surface Transforms announced its sales figures for the first quarter ending 31 March 2024. Despite sales aligning with the previous quarter at £3.0 million, the company confirms it is on track to meet its £23 million sales guidance for the fiscal year 2024. Significant operational improvements have been noted, with Chief Operations Officer Stephen Easton spearheading efforts to enhance production efficiency and reduce scrap rates.
Key Highlights:
- Q1 2024 Sales Reached £3.0m: Staying consistent with Q4 2023’s figures, indicating stability.
- Annual Sales Guidance Reconfirmed at £23m: No adjustments to the company’s financial outlook for 2024.
- Operational Improvements: Led by COO Stephen Easton, notable advancements in plant performance and scrap reduction.
- Capacity Expansion on Track: Progress in the installation of new furnaces to meet a £50 million sales target, with financing secured.
- Board Transition: Chairman David Bundred announces retirement plans, with a search for his successor underway.
Surface Transforms plc (LON:SCE) is a manufacturer of next-generation carbon-ceramic brake discs for automotive and aircraft applications and has been certified to IS9001-2000 since 2008 and was certified to TS16949 automotive quality accreditation and AS9100C aerospace quality accreditation in 2015.
