Sitting comfortably...22 Jun 2013 05:40
Amongst all the buys and sells, this is the view of N+1 Singer (18June, www.n1singer.com): "Hardide’s interims, as expected, highlight a short term dip in demand in the current year but also confirm significant technical and commercial progress, which should underpin good growth over the medium term. The results reflect a sharp drop off in demand from one major customer as a result of the destocking exercise, which was flagged in the April trading update. We continue to expect a strong recovery in FY14 and take confidence from a 34% increase in the number of active accounts (from 29 to 39), the recent investment in the Business Development team and successful advances with aerospace and advanced engineering partners."