UK's Hardide annual profit surges on production work wins

Hardide

Today 07:09

Overview
UK advanced coatings firm's FY26 revenue more than doubled yr/yr to £13.5 mln
Pretax profit for FY26 rose sharply to £4.9 mln, driven by improved cost management
Company won new orders in North America, aerospace, energy and industrials sectors

Outlook
Company expects new capacity to come on stream in H2 FY27
Recent order intake and trading momentum underpin market expectations for further growth in FY27
Market expects FY27 revenue of £18.8 mln and EBITDA of £8.0 mln

Result Drivers
NORTH AMERICAN CUSTOMER - Co delivered first shipments of coatings for new generation of parts, leading to further US$1.9 mln sales order
SECTOR EXPANSION - Co recently won further production work in Aerospace, Energy and Industrials sectors
TESTING PIPELINE - Co said testing continues with potential major energy sector customer in Middle East and Semi-Conductor sector customers

Company press release: ID:nRSU7475Za

Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
FY Revenue
 
GBP 13.5 mln
 
FY Pretax Profit
 
GBP 4.9 mln
 

Analyst Coverage
The one available analyst rating on the shares is "strong buy"
The average consensus recommendation for the commodity chemicals peer group is "buy."
Wall Street's median 12-month price target for Hardide PLC is GBp115.00, about 10.6% above its October 20 closing price of GBp104.00

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)