REG - Hardide PLC - AGM Statement

HardideAnnouncement

11/03/2022 07:00

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RNS Number : 3857E  Hardide PLC  11 March 2022

11 March 2022

 

Hardide plc

("Hardide", "the Group" or "the Company")

 

AGM Statement

 

At the Annual General Meeting of Hardide plc (AIM: HDD) to be held at 11:30am
today, Robert Goddard, Chairman of the Group, will make the following
statement:

 

"We are delighted that the first half of the year has started strongly with
sales expected to be over 40% higher than the same period last year. Oil and
gas demand is growing and our customers predict this to increase further in
H2. Earlier this month we were particularly pleased to announce developments
in the power generation sector with the first production set of gas turbine
blades coated and delivered to Ansaldo Energia. The second set of turbine
blades is due to be received later this month and further sets of blades are
due to be received throughout this year.

 

"Also in the period, first orders were received for coating Airbus A320
components, with regular demand for these due to commence in H2. Orders for
coating Airbus A330 wing components are also due to commence in H2. Leonardo
Helicopters reported the successful outcome of its transmission system test
programme which included Hardide-coated components and orders for these are
also expected to commence in H2.

 

"The new larger reactor at our UK site is expected to continue to operate at
high capacity as we continue to coat production sets of turbine blades for
Ansaldo Energia. The Board believes that 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.

 

"Half year results are expected to be published on or around 10 May 2022."

 

 Enquiries:

 Hardide plc                                          Tel: +44 (0) 1869 353830

 Robert Goddard, Non-Executive Chairman

 Philip Kirkham, CEO

 Jackie Robinson, Communications Manager

 IFC Advisory                                         Tel: +44 (0) 20 3934 6630

 Graham Herring / Tim Metcalfe / Florence Chandler

 finnCap - Nominated Adviser and Joint Broker         Tel: +44 (0) 20 7220 0500

 Henrik Persson / Abigail Kelly (corporate finance)

 Richard Chambers (ECM)

 Allenby Capital - Joint Broker                       Tel: +44 (0) 20 3328 5656

 Jeremy Porter / Tony Quirke

Notes to editors:

Hardide develops, manufactures and applies advanced technology tungsten
carbide/tungsten metal matrix coatings to a wide range of engineering
components. Its patented technology is unique in combining, in one material, a
mix of toughness and resistance to abrasion, erosion and corrosion; together
with the ability to coat accurately interior surfaces and complex geometries.
The material is proven to offer dramatic improvements in component life,
particularly when applied to components that operate in very aggressive
environments. This results in cost savings through reduced downtime and
increased operational efficiency. Customers include leading companies
operating in the energy, aerospace and industrial sectors.

www.hardide.com (http://www.hardide.com)

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