Hardide PLC Trading Update (6910B)
April 06 2017 - 2:00AM
UK Regulatory
TIDMHDD
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 Tel: +44 (0) 1869
Philip Kirkham, CEO 353 830
Jackie Robinson, Communications Manager
finnCap Tel: +44 (0)20 7220
Stuart Andrews/Henrik Persson/James 0500
Thompson
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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