- Break disc manufacturer Surface Transforms posted a first-half loss after rising sales were offset by R&D spending.

The company stuck to its recently upgraded annual sales guidance, citing a strong-than-expected performance this year.

Pre-tax losses for the six months through June amounted to £1.45 million, compared to losses of £1.53 million on-year. Revenue rose 55% to £0.90m.

Surface Transforms did not declare an interim dividend.

'Despite the Covid 19 lockdown, trading has been better-than-expected,' the company said.

'As a result, the company reiterates that it now anticipates current 2020 financial year revenues will be approximately £2.0m.'

At 9:05am: [LON:SCE] Surface Transforms PLC share price was +2p at 45p

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