Trading Update

RNS Number : 6910B

Hardide PLC

06 April 2017

 

6 April 2017

Hardide plc

("Hardide" or "the company")

Trading Update

Hardide (AIM: HDD), the developer and provider of advanced surface coating technology, gives the following update on trading for the first six months of its current financial year to 30 September 2017. 

As expected, sales to the Oil & Gas sector have more than doubled compared to the same period in 2016 and overall trading is comfortably ahead of both the first half and the second half of the last financial year. As a result, the Board expects that the trading performance for the full financial year to be in line with market expectations.

The Board is very encouraged by the Company's recent gain of Airbus Approved Supplier status and is looking forward to completion of discussions with Airbus about the supply of coated components. The Virginia facility is performing very well and activity there is expected to increase in the second half of this year.

Management continue to maintain a tight control of the cost base.  

For further information:

Hardide plc Philip Kirkham, CEO Jackie Robinson, Communications Manager	Tel: [phone]
finnCap Stuart Andrews/Henrik Persson/James Thompson	Tel: [phone]

Notes to editors:

www.hardide.com

 Hardide develops, manufactures and applies advanced technology tungsten-carbide coatings to a wide range of engineering components.  Its patented technology is unique in combining, in one material, a mix of toughness and resistance to abrasion, erosion and corrosion; together with the ability to coat accurately interior surfaces and complex geometries.  The material is proven to offer dramatic improvements in component life, particularly when applied to components that operate in very aggressive environments.  This results in cost savings through reduced downtime and increased operational efficiency.  Customers include leading companies operating in oil and gas exploration and production, valve and pump manufacturing, nuclear, advanced engineering and aerospace industries. 

 

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