Hardide 2nd Half Started Strongly, Expects Sales to Rise 40% in the Period

By Anthony O. Goriainoff

Hardide PLC said Friday that the second half of fiscal 2022 started strongly and that it expects to report a 40% rise in sales for the period.

The U.K. provider of surface-coating technology said that oil-and-gas demand is growing and that its customers expect this to increase further into the second half.

The company said it received first orders from Airbus SE for the coating of components on the Airbus A320, and that regular demand for these, as well as for the coating of wing components on the Airbus A330, is due to start in the second half.

Hardide said it expects the new larger reactor at its U.K. site to operate at high capacity, and that the board believes there is significant potential for further business from the gas and steam turbine sector as the transition to net zero carbon emissions gains pace.

"The board is optimistic that the increasing demand from existing customers and the high-volume potential of a number of projects will result in the group achieving its previous upward sales trajectory," the company said.

Write to Anthony O. Goriainoff at [e-mail]

(END) Dow Jones Newswires

March 11, 2022 02:53 ET (07:53 GMT)

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