Hardide Share Discussion Threads

[nick100] 06/6/2016 13:03

From Sharecast.


Hardide interim loss widens amid oil and gas downturn
Mon, 6th Jun 2016 09:59

(ShareCast News) - Hardide reported a wider interim loss as the downturn in the oil and gas exploration market takes its toll on the company.

For the six months to the end of March, the AIM-listed surface coating technology provider posted a group operating loss of £624,000 compared to a £68,000 loss the year before as revenue fell to £949,000 from £1.8m.

Chairman Robert Goddard said: "Advanced engineering and aerospace sector revenues more than doubled during the half year and group order intake showed a 44% rise from the prior six months. However, we are in the midst of the longest and most severe global downturn in our core market of oil and gas and this has led to group revenues falling 46% from the same period last year.

"In response, the company has acted quickly and decisively to reduce its cost and expense base while retaining its ability to react quickly when demand from the oil and gas market recovers."

Nevertheless, Hardide said it expects to be operating in these challenging market conditions for the foreseeable future and continues to grow its business outside oil and gas.

With this in mind, the board is considering potential funding options for the business as a precautionary measure.

Hardide said that given uncertainty about the timing of a recovery in oil and gas activity, it remains cautious about the near-term outlook but reckons second-half revenues will be higher than those in the first half.

At 1007 BST, shares were down 10.3% to 0.74p.

[nigthepig] 06/6/2016 09:30

Chrisgail. Pathetic results as expected. A lot of us don't like jam, so we will just have some upside tomorrow please.

[chrisgail] 06/6/2016 09:29

Its time for a shake up of the board, they are far too highly paid to be running what is a very small company, take 30-50% pay cuts or move on. Your onging failure does not in anyway justify your pay.

0.5p share price is on the way.

[meijiman] 06/6/2016 08:41

Truly pathetic. It must be time for the broker to spiv up the share price. Money will be needed to support agreeable lifestyles/pay for overseas conferences/pay for lunches to discuss business opportunities.
Think the company has been spinning along like this for 10 or is it 15 years. Maybe another 10 to go before they are rumbled.

[chrisgail] 06/6/2016 07:57

Today's jam, dramatically down, jam tomorrow, as always, now even bigger and better! We can look forward to the next, of many, cash calls. Pitifull performance.

[spike_1] 31/5/2016 09:27

thanks nick!

[nick100] 31/5/2016 06:08

Hardide plc interim results for the 6 months to 31 March 2016 will be announced on 6 June 2016

[nick100] 23/5/2016 15:55

They had said that they were going to announce the interns in late may,so one cannot say that the results are delayed.

[ansc] 23/5/2016 08:45

Interim results announced on 21st May last year, never a positive signal when announcements are delayed (imo). Should we brace ourselves for yet more disappointing news?

Will things ever change .....

[meijiman] 15/4/2016 11:17

I thought the idea was that by using these coatings firms would save money in the long term. Therefore it was a 'no brainer' for them to adopt these new coatings. That value proposition doesn't seem to have worked out as sales would presumably be much higher than the pitiful level they are at now, even after ten years or more as a listed company.

[nick100] 12/4/2016 12:16

Article: Product Finishing March 2016

[spike_1] 01/4/2016 12:24

I guess the problem with that approach is that the parts that need coating usually are not provided by the end user, but by a manufacturer who then sells the product to the end user. This being the case, the seller will be liable for guarantees it provides on the longevity of the coated part, so their liability insurers will want proof it does what it says on the tin.

This does not apply to the aircraft work but that has even higher hurdles for obvious reasons.

Best wishes - Mike

[juleshoddy] 29/3/2016 22:57

ditto. soundsplausible sounds fair too logical.

[soundsplausible] 29/3/2016 20:16

I appreciate that they are still trying to get traction with potential suitors, but surely just aiming for a few high profile clients is a high risk strategy. I would like to know how much a premium this technology puts on any component that is coated in it. At the end of the day the price will not be measured on how great that part is but by how much it will save in replacing parts through normal wear and tear. If it is that good, why wait to find out what the trials indicate (successful trials do not mean forthcoming sales)? They have an enlarged sales team in place (these folk cost money sales or no sales). Why don't they just get out and about coating anything that will benefit and bring sales in?

[mudbath] 29/3/2016 18:44

"In August 2000, with the backing of Flintstone Technologies Plc (FLT), Hardide was incorporated to further develop and commercialise the technology, the Company owns all the intellectual property rights protecting the technology in all recognised industrial countries."

16 years and counting hardly constitutes "new technology",imo.

[spike_1] 29/3/2016 14:35

Sound - I think HDD is already priced to be less than successful, so any drop is probably going to be bought into. It is difficult not to believe 'things can only get better' given their recent expansion commitment into the U.S.

Worth remembering perhaps they did this once before in the U.S. and it failed to blossom, it's difficult to imagine they would make the same mistake again.

One of the biggest problems is that because their hard surface coating is new technology, in many cases trials are required by users to ensure it does what it says - however as the coating is so hard wearing it seems to take forever for trials to reach a conclusion.

Best wishes - Mike

[soundsplausible] 28/3/2016 10:05

Can I pose a question? I have recently bought into Hardide, after following it for ~2 years. Normally I only buy into companies that have a proven track record of improving turnover and profit measured over 3 - 5 years. Clearly this company does not follow this pattern. My stake is purely a punt, based on several things namely it's new factory and the wakening up of management that a product no matter how good it is it does not sell itself. To make sales you need salesmen who do this. Hardide as I noticed finally started upping it sales force so things should improve, hence my punt.

Now to my question. In my normal strategy if a company issued a profits warning (like Hardide did the other day), I would begin to get worried as bad news always follows more bad news. In this case Hardide are a company that in previous years the profit pattern was down, up, down, up, down, with turnover not much changed in the past 4 years. How much does a profits warning effect companies share prices like Hardide?

[chrisgail] 26/3/2016 12:11

Target price, as always, remains 0.5p the next fundraising gets ever nearer.

[meijiman] 23/2/2016 11:10

What do these people do all day I wonder.?

[lateralam] 22/2/2016 19:28

Yes would definitely be nice to have the share price "spivved up" again!