Knowsley-based Surface Transforms, which manufactures carbon fibre reinforced ceramic automotive brake discs, has made “considerable strategic progress” during the first half of its financial year, despite widening pre-tax losses.
For the six months ended 30 June 2023, the company reported revenue of £3.3m, which climbed from £2.9m in the prior year, but was lower than planned due to technical challenges which the business said have now been overcome.
Operating loss widened from £2.45m to £4.6m – primarily due to £2.5m of non-repeatable outlays to overcome technical challenges – as did losses before tax, from £2.5m to £5.5m.
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.
