Business
Half Yearly Results
Half Yearly Results.
About this update from Surface Transforms Plc
[{"type":"text","content":"\n \nRNS Number : 6471W Surface Transforms PLC 13 February 2017 \n\nThe information communicated within this announcement is deemed to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014. Upon the publication of this announcement, this inside information is now considered to be in the public domain.\n \n13 February 2017\n \nSurface Transforms Plc.\n(\"Surface Transforms\" or the \"Company\")\n \nHalf-year financial results for the six months ended 30 November 2016\n \nSurface Transforms, (AIM:SCE) manufacturers of carbon fibre reinforced ceramic (CFRC) materials, announces its half-year financial results for the six months ended 30 November 2016.\n \nFinancial highlights:\n \n· Turnover decreased to £327k (H1-2015: £782k)\n· Total comprehensive loss increased to £976k (H1-2015: £124k)\n· £306k of this difference related to late receipt of the tax credit: a tax credit of £356k was received in January 2017 (H1-2015: £306k received in November 2015)\n· Loss before tax increased to £976k (H1-2015: £430k)\n· Cash at 30 November 2016 was £2,698k (31 May 2016: £4,777k)\n· Capital expenditure on property, plant and equipment of £680k mainly related to the new Knowsley facility\n· Increased inventory of £193k to £763k (H1-2015: £570k) \n· Trading remains in line with management expectations\n \nSales and Operational Highlights\n \n· Production underway at the new Knowsley factory\n· Post period end, first tier 2 supplier nomination to...