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Hardide sees good progress

By BFN News | 07:55 AM | Wednesday 29 April, 2015

Advanced surface coating technology provider Hardide reports good progress in the first seven months of the current financial year ending 30 September. It says that while the dramatic decline in the oil price had no discernible impact on demand from its major oil and gas service company customers in this period, there are now indications that the second half of the year is likely to be affected by reduced exploration and drilling spending, and the board takes a cautious view given the limited forward visibility from these customers. Outside this segment, demand remains encouraging and the Company continues to diversify its customer base. Plans for the opening of the new US production facility remain on track, as well as test programmes for customers across a range of industries, including aerospace. The group's financial position remains strong. Story provided by

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