Pre-Close Update (2085P)
30 September 2011 - 8:00AM
UK Regulatory
TIDMHDD
RNS Number : 2085P
Hardide PLC
30 September 2011
Press Release 30 September 2011
Hardide plc
("Hardide" or "the Group")
Pre-Close Update for the year ending 30 September 2011
Hardide plc (AIM:HDD), the provider of unique metal surface
engineering technology, is pleased to give the following update
ahead of its preliminary results for the year ending 30 September
2011.
Sales are expected to be some 10% ahead of last year and this
should enable the Group to report a modest profit at the EBIDTA
level (before accounting for severance costs) for the six months
ending 30 September 2011. This is despite deliberate increases in
spend on market development. At the same time, other overheads have
been well contained. The pipeline of projects has developed well
over recent months and this is seen as a good indicator of future
sales.
The Group is continuing its approvals test programme with
Airbus, the leading aircraft manufacturer. The test results to date
are encouraging and indicate that there could be a wider range of
general applications for Hardide than exclusively as a replacement
for hard chrome. For environmental reasons, hard chrome is being
phased out in Europe and the USA under REACH(1) and OSHA(2)
regulations respectively. These standards will also apply to other
industries where Hardide offers a suitable alternative to hard
chrome. Once further tests by Airbus are completed successfully,
the way will be open to begin testing of Hardide coated components
for use on Airbus aircraft.
REACH(1) : Registration, Evaluation, Authorisation and
restriction of CHemicals
OSHA(2) : Occupational, Safety & Health Administration
Ends
For further information:
Hardide plc
Robert Goddard, Chairman Tel: +44 (0) 1869 353830
Jackie Robinson, Corporate Communications www.hardide.com
jrobinson@hardide.com
Seymour Pierce Limited
Guy Peters Tel: +44 (0) 20 7107 8000
guypeters@seymourpierce.com www.seymourpierce.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.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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