Surface Transforms, the Cheshire based supplier of carbon fibre reinforced ceramic brakes and components, announced in the June update that the final results to May 2011 are anticipated to show sales greater than £860,000 (2010: £805,000) but with a significantly higher post-tax loss than in 2010. The increased loss is due to higher development costs and much lower R&D tax credit receipts.

Steps have been taken to lower the sales level at which cash breakeven can be achieved by reducing overheads by £170,000 per annum and reducing product costs.

The order book and contracted sales for 2011/12 totals £568,000 (2010/11: £522,000).

The SCE share price has decreased by 25% over the last year.

Surface Transforms Plc is currently graded C by LCF Research. To learn more, follow this link.

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