Hardide PLC - Oxfordshire-based advanced surface coating technology developer - Outlines upbeat expectations for coming year despite reporting a widened pretax loss for financial 2021 on a 25% decline in revenue. For year ended September 30, pretax loss widens to GBP2.9 million from GBP1.4 million last year on revenue of GBP3.6 million, down from GBP4.8 million. Looking ahead, says demand is now "resurgent" across all sectors and has healthy pipeline of exciting opportunities in both current and new markets. Notes several new contracts including a first large production order received for the coating of gas turbine blades with a European turbine manufacturer and a production order for Airbus A320 aircraft wing components.
"Looking forward, the much improved sales performance in the first months of the current financial year and the considerable pipeline of opportunities augur well for further growth in sales. This provides us with confidence in the group's prospects for 2022 and onwards," says Chair Robert Goddard.
Current stock price: 31.50 pence, down 3.1% on Monday
Year-to-date change: down 1.6%
By Will Paige; willpaige@alliancenews.com
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Hardide (HDD)