- Surface Transforms, the manufacturer of carbon ceramic brake discs for the aircraft and automotive industries, expects turnover to be in excess of £1.0 million, approximately 16% higher than last year (2011: £0.86 million) and in line with market expectations. Last year the board announced a reduction to the Company's operating cost base and during this year it has focused, in particular, on reducing the direct costs of the main carbon ceramic brake products.

Progress has been made on both fronts and overall, we expect our audited loss before tax to be lower than last year and in line with market expectations.

At 9:15am: [LON:SCE] Surface Transforms share price was +0.25p at 11p

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