Surface Transforms surges after better-than-expected interim results

Carbon-fibre-reinforced ceramic materials manufacturer Surface Transforms said trading in the first half was better than expected.

In six months to 30 November, the group posted a 25.5% year-on-year increase in revenue to £782,000, which is expected to lead to a narrower earnings loss before interest, taxation, depreciation and amortisation.

The London-listed company attributed the improved performance to strong sales in its aircraft and retrofit car businesses and to an increase in revenue in its original equipment division.

Group chairman David Bundred said the better-than-expected results were “most encouraging”.

Surface shares were up 7.60% to 23.00p at 1534 GMT on Monday.