Surface Transforms plc (LON:SCE) manufacturer of carbon fibre reinforced ceramic disc brake materials has provided the following more detailed sales guidance for 2024. Sales are anticipated to grow by a minimum of 111% in 2024 and up to 165% compared to FY 2023 sales of £8.3m, resulting in a projected FY 2024 range of £17.5m to £22m sales.
With the majority of the year still to come, 2024 sales outlook is dependent on the amount of progress made on reducing scrap, building capacity and delivering to customers.
Sales were constrained in Q1 due primarily to scrap and constrained manufacturing capacity. Significant progress has been made on reducing scrap and this is expected to continue through 2024. Similarly progress on expanding our capacity during 2024 is advancing. As capacity increases from these operational activities it also creates the opportunity to deliver a more favourable product mix with customers. These three activities are all boosting sales and are driving our rapid growth during the year.
