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Hardide PLC's trading slightly ahead of budget

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Hardide (LON:HDD), the provider of advanced surface coating technology, said trading in its new financial year has been slightly ahead of budget.

Robert Goddard, chairman of the company, is set to tell shareholders at Monday's annual general meeting that the group has made good progress in the first four months of the current financial year.

The company's plans for the expansion of capacity are on track, both in the UK and US, reflecting developing customer demand.

"A number of new applications are in test for customers across a range of industries, which strengthens Hardide's medium-term revenue pipeline," Goddard said, though he added that the company is keeping a watchful eye on clients' order patterns given the precipitous decline in the oil price, which has prompted a number of exploration companies to cut back on capital expenditure.

Quick facts: Hardide PLC

Price: 28 GBX

AIM:HDD
Market: AIM
Market Cap: £14.9 m
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