# Hardide plc anticipate a stronger second half

- Link: https://www.directorstalkinterviews.com/hardide-plc-anticipate-a-stronger-second-half/4121149021
- Published: 2024-03-25T07:13:06+00:00
- Author: Ethan Davis

**Hardide plc** (LON:HDD), the developer and provider of advanced surface coating
technology, will be holding its Annual General Meeting at 11:30am today, at which
the Chair will provide the following update on trading in the financial year to 
date.

Hardide expects to report revenues for the first half of the financial year (H1 
FY24) of circa £2m, compared with £2.9m in the equivalent prior year period.

As reported in our annual results announcement on 8 February 2024, this reflects
a slower than expected start to the financial year, as certain customers reduced
their inventory holdings. Hardide’s trading momentum has since improved, but has
not advanced beyond prior year levels.

We anticipate a stronger second half as order patterns from major OEM customers 
normalise, supplemented by ongoing sales growth into aerospace markets and initial
sales of industrial consumable spares product sold directly to end user customers.

Further action is being taken to further reduce costs and improve revenues and margins
in order to underpin existing expectations for an EBITDA positive performance for
FY24.

We are very grateful for the support of new and existing investors in our recent
capital raise to help enable us to deliver on our strategy.

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