Surface Transforms Plc reported unaudited consolidated earnings results for the six months ended November 30, 2017. For the period, revenue was £524,000 against £327,000 a year ago. Operating loss was £1,294,000 against £981,000 a year ago. Loss before tax was £1,294,000 against £976,000 a year ago. Loss for the period after tax was £1,294,000 against £976,000 a year ago. Loss per ordinary share - basic and diluted was 1.17 pence against 1.08 pence a year ago. LBITDA (including tax credits and excluding share-based payments) was £1,107,000 against £874,000 a year ago. Net cash used in operating activities was £1,140,000 against £1,387,000 a year ago. Acquisition of property, plant and equipment was £684,000 against £680,000 a year ago.

The Company continues to expect year-end sales to be in line with management expectations. Research expenditure will continue at its current higher level and the increased site costs reflect the on-going higher costs of the new site. These increased costs are already reflected in existing Company budgets and the Company expects to finish the year with a loss in line with budget. The Company's projections indicate that there is sufficient cash to reach the point of operational cash generation in fiscal 2020.