News

4 October 2006

 

STS sales up 37% year-on-year

Plasma etch and deposition systems supplier Surface Technology Systems plc (STS) of Newport, Wales, UK has reported its interim results for the six months ended 30 June, 2006.

Sales revenue increased 37% to £10.2m in the period, compared with £7.5m in H1, 2005. Gross margin improved from 24% in H1, 2005 to 32% in H1, 2006. EBITDA improved by £1.2m to a loss of £0.1m, against a loss of £1.3m in the same period last year.

“The order book for the period was strong largely due to widespread interest in the Pegasus system. The order book at the end of June at £7.9 million compared to £6.5 million as at 30 June 2005,” said Nigel Randall, STS’ chairman. “Order intake since 30 June 2006 has continued to grow with two very large orders, worth together over £3 million, won in September for delivery this year. The order backlog at 27 September was £9.1 million, all for delivery this financial year.”

Randall added: “The Directors expect the Group to trade profitably in the second half of the year providing the order intake remains at the levels already gained and those orders are fulfilled. If this occurs then for 2006 as a whole market expectations are achievable and the Board looks forward to 2007 with increasing confidence.”

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