Hardide PLC (AIM:HDD) shares rose more than 14% after the surface coating technology group said a major North American energy customer had placed a £2.4 million order covering the rest of the company’s 2026 financial year requirements.
The AIM-listed company said the contract was larger than previously expected and would “materially” improve revenue and financial performance expectations for the year ending 30 September 2026.
Most of the order will be fulfilled from Hardide’s Martinsville facility in the US, where recent operational improvements have increased production capacity and accelerated delivery rates.
The specialist in tungsten coatings designed to extend the life of complex components said the latest contract reflected growing demand from the customer and would run alongside recently announced orders being completed at its UK facility in Bicester.
Hardide added that the new orders included pricing surcharges designed to offset rising input costs.
The company also said it had secured ongoing supplies of process gas at known prices through the remainder of the 2026 financial year and into the first half of 2027, with no supply restrictions experienced despite higher production volumes.
Chief executive Matt Hamblin said the group now had visibility over customer demand for the rest of the year and was working on delivery schedules that would support the 2027 financial year.
Shares in Hardide were up 14.3% at 58.27p in afternoon trading.