Hardide PLC Pre-Close Trading Update (7580M)
October 18 2016 - 2:00AM
UK Regulatory
TIDMHDD
RNS Number : 7580M
Hardide PLC
18 October 2016
18 October 2016
Hardide plc
("Hardide" or "the Group" or "the Company")
Pre-close Trading Update
Hardide plc, the provider of advanced surface coating
technology, announces the following pre-close trading update ahead
of the publication of its preliminary results for the year ending
30 September 2016.
The Company expects to report preliminary year-end results that
are in line with current market expectations with H2 seeing an
improvement over H1, as projected at the time of the interim
results. There are signs of a slow recovery from oil and gas
markets, both from existing customers and from new opportunities.
Our progress towards gaining aerospace business following Airbus
technical approval is on-track and is looking positive across a
range of applications for Airbus and other customers.
Our new US coatings facility in Virginia has achieved the
required major customer approvals after extensive verification
trials and is now regularly producing revenue.
The recent successful fundraising totalling GBP1.6m will enable
the Company to progress with its plans for future developments and
growth.
The Board expects to release preliminary results on 12 December
2016.
For further information:
Hardide plc Tel: +44 (0) 1869
Philip Kirkham, CEO 353830
Jackie Robinson, Communications
Manager
finnCap Tel: +44 (0)20 7220
Stuart Andrews/Grant Bergman/ 0500
James Thomson
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.
This information is provided by RNS
The company news service from the London Stock Exchange
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