Surface Transforms’ Growth Behind Schedule

Surface Transforms (GB:SCE) has released an update.

Surface Transforms PLC reports a 58% revenue increase to £4.7m in the first half of 2024, despite experiencing an operating loss of £7.4m and a drop in gross profit margin. The company is actively working on capacity upgrade projects and manufacturing yield improvements, although progress is behind schedule, resulting in an expected annual revenue significantly lower than market expectations. They are managing cash flow carefully and considering various funding options to support growth and operational efficiency.

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