Last checked at 5 Oct 2015 07:00
5 October 2015
AIM: HDD
Hardide plc
("Hardide" or "the Company")
Pre-close trading update
Hardide plc, the provider of advanced surface coating technology, announces the following pre-close trading update ahead of the publication of its preliminary results for the year ending 30 September 2015.
The Company expects to report preliminary year-end results that are in line with current market expectations. After a record first six months, as anticipated, Hardide experienced a softer second half. This directly reflected reduced global oil and gas exploration and drilling spending. Nonetheless, the Company has continued to make encouraging progress with its long terms plans to diversify the customer base, both geographically and by sector, and potentially significant customer trials are advancing well.
The opening of the new U.S. coatings facility in Virginia is on track, with the site expected to be fully operational before the end of 2015.
The Board expects to release preliminary results in early December 2015.
For further information:
Hardide plc | Tel: +44 (0)1869 353 830 |
Philip Kirkham, CEO | |
Jackie Robinson, Communications Manager | |
finnCap | Tel: +44 (0)20 7220 0500 |
Stuart Andrews/ Grant Bergman | |
KTZ Communications | Tel: +44 (0)20 3178 6378 |
Katie Tzouliadis |
Notes to editors:
www.hardide.co.uk
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.