Trading Update

RNS Number : 6367Y

Hardide PLC

05 March 2012

 



Press Release

05 March 2012

Hardide plc

("Hardide" or "the Group")

Trading Update

Hardide plc (AIM:HDD), the provider of unique metal surface engineering technology, today gives a trading update prior to the Group's interim results for the half year ending 31 March 2012.

The board is pleased to announce that the Group expects to report half year revenue that will be considerably above the same period last year following a strong flow of completed orders during the first half, due to which the board now believes it will comfortably exceed market expectations for the full year if the level of sales enjoyed in the first half is sustained in the second. Despite this good start to the year, the board will continue to monitor progress closely due to the Group's previous experience of very uneven demand following periods of stockbuilding by customers.

Meanwhile the Group continues to add new customers and develop new applications for existing customers.  Investment in business and market development also continues and the board is pleased with the continued development of the Group's pipeline across the key markets of oil & gas, flow control, aerospace and advanced engineering.

The Group intends to announce its interim results for the six months ending 31 March 2012 in June 2012.

Ends

For further information:

Hardide plc
Robert Goddard, Chairman Jackie Robinson, Communications Manager	Tel: [phone] www.hardide.com
N+1 Brewin
Andrew Craig/Ben Wright	Tel: [phone] www.nplus1brewin.com

Note to editors

Hardide Coatings

Hardide develops, manufactures and applies tungsten carbide-based coatings to a wide range of engineering components.  The Group's patented technology is unique in that it combines abrasion, erosion and corrosion resistant properties in one coating.  When applied to metal components, the technology is proven to offer dramatic cost savings through reduced downtime and extended part life.  Customers include leading companies operating in oil and gas exploration and production, valve and pumps manufacturing, general engineering and aerospace.

 

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