Surface Transforms has been hit by delays to the commencement of production for a sixth OEM until the fourth quarter of 2019.
The manufacturer of carbon fibre brake discs is expected to make a full year loss of £1.9m, up from £1.4m previously. That reflects a £500,000 reduction in forecast revenues. Last year’s loss was £2.2m.
Net cash was £745,000 at the end of November 2018, after Surface Transforms made an interim loss of £1.48m. A tax credit should be received soon, so there should be enough cash for the time being.
Surface Transforms is making progress with two other potential OEM customers.
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