Hardman & Co Research on Surface Transforms (SCE): Further new order, upgrades, production ramp-up

Hardman & Co Research on Surface Transforms (SCE):

Further new order, upgrades, production ramp-up

We are very encouraged by the further significant upgrades following SCE’s interim results announcement. This is over and above the upgrades from August’s new OEM 9 order. The order book is now £190m (£50m end-2020), with more rises promised before end-2022. The results, announced 5 September, cover a period where production ramp-up was impressive and the resilience of gross margins proven. The major milestone of profitability is achieved this half year. We raise 2024E EPS by 39%, on a 12% sales upgrade. Operational gearing is at play but also the confirmed continuing robustness of gross margins.

Please click on the link below for the full report:

https://hardmanandco.com/research/corporate-research/further-new-order-upgrades-production-ramp-up/

If you are interested in meeting the company, you can register your interest by clicking on the above link

Hardman & Co Research can still be accessed for free after MiFID II. Please click here to read the statement.

About Hardman & Co: Hardman Research Ltd, trading as Hardman & Co, is an appointed representative of Capital Markets Strategy Ltd and is authorised and regulated by the Financial Conduct Authority; our FCA registration number is 600843. Hardman Research Ltd is registered at Companies House with number 8256259. Attention is drawn to the important disclaimers at the end of the report.