Hardide PLC Trading Update (9508R)
18 Settembre 2014 - 8:00AM
UK Regulatory
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RNS Number : 9508R
Hardide PLC
18 September 2014
18 September 2014
Hardide plc
("Hardide" or "the Company")
Trading update
Hardide, the provider of advanced surface coating technology, is
pleased to provide a trading update for the year to 30 September
2014.
After an encouraging first half, the second half of the
financial year has progressed strongly, and results for the year
are therefore expected to be slightly ahead of current market
forecasts. This result has been underpinned by the Company's new
major supply contract with General Electric Company coming on
stream as expected, as well as the return to a more normal level of
orders from a major oil & gas customer.
Hardide is seeing developing momentum in demand and, in line
with its proposals announced in July when the company raised
GBP2.7m (gross), the Board is now proceeding with its investment
plans for additional coating capacity in the UK. This new
production capacity is expected to become operational before the
end of 2014. The Company's test programme with Airbus, now in
qualification phase, is progressing well and with greater speed
than previously. Airbus is testing a Hardide coating as an
alternative to hard chrome plating for certain aerospace
applications.
Hardide expects to announce full year results in late November
when it will provide a further update on current trading.
For further information:
Hardide plc
Philip Kirkham, Chief Executive Tel: +44 (0) 1869
Officer 353 830
Jackie Robinson, Communications www.hardide.com
Manager
finnCap Tel: +44(0)20 7220
0500
Stuart Andrews/ Grant Bergman www.finncap.com
Newgate Threadneedle Tel: +44 207 653 9850
Josh Royston/Heather Armstrong/Adam www.newgatethreadneedle.com
Lloyd
About Hardide plc
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
END
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