Surface Transforms, the performance materials developer, announced that final results to May 2011 showed sales of £864,000 (2010: £805,000) and pre-tax loss of £974,000 (2010: £747,000). R&D costs were £997,000 (2010: £670,000) - this was due to unfunded programmes evaluating brake discs for a number of new car platforms and for an aircraft brake, which are anticipated to be considerably reduced in 2011/12. The company's year end net cash was £615,000.

The company also reported that in March 2011, a collaboration with Alcon Components (an existing customer which is a leading UK based performance brake system supplier to both automotive OEM's and the aftermarket) was formalised - the first product is a ceramic brake upgrade kit for the Nissan GTR. A capacity expansion plan has also been established which will address the key bottlenecks through process improvement and additional process plant.

The SCE share price has decreased by 60% over the last year.

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