Carbon boost

Surface Transforms has increased its revenue by 34 per cent to £679,284 following a number of significant contract wins for its carbon fibre reinforced ceramic composite materials (CRFCs).

The Cheshire-based manufacturer’s improved revenue was backed by an order book that has grown from £166,370 since the end of May to £308,108 at the start of this month.

However, the company’s cash position was £404,275 compared with £1.1m a year earlier and losses after taxation were at £840,740, which the group attributed to a sustained reduction of output within the automotive industry.

Sales to automotive customers this year have represented 65 per cent of total group turnover compared to 84 per cent in 2008. As a result, the company said in February that its revenue for the full year would fall short of market expectations because of weakening orders.

Since then, the company has met its revised orders. Its performance was helped by group sales in the defence and aerospace markets, which increased by 182 per cent to £236,279 following a £100,000 order from European missile supplier MBDA.