Hardide plc Sales to Oil & Gas sector more than doubled

Hardide Plc

Hardide plc (LON:HDD), the developer and provider of advanced surface coating technology, gave today 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.

Hardide plc management continue to maintain a tight control of the cost base.

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