Hardide to smash expectations

Surface engineering specialist Hardide said since its update in March, momentum has continued and it now expects revenue for the year to exceed previous expectations.

The group, which provides metal coatings used for valves, pumps, oil and gas, aerospace and pharmaceutical industries, said much of the momentum generated in the first half of the year has continued in the second half, though not at the same level.

As such revenue for the year will be at least 45% higher than the previous year and the group will exceed market expectations for the year ending 30 September 2012.

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Hardide said it continues to add new customers and develop new applications for existing customers.

It added that investment in business and market development also continues and the group's pipeline across the key markets of oil & gas, flow control, aerospace and advanced engineering continues to advance.

Hardide's new CEO, Philip Kirkham, is expected to take up his role 3 September 2012.

Shares of Hardide soared 26% in morning trading in London.

CJ