UK's Hardide posts higher H1 revenue; plans capital reduction, no dividend

Hardide

21/05/2026 07:10

Overview

UK surface coating tech firm's H1 revenue rose 71% yr/yr, driven by energy sector contracts

Operating profit and basic EPS turned positive, reflecting improved capacity utilisation and efficiency gains

Company plans capital reduction to restore distributable reserves but does not intend to pay dividends

Outlook

Hardide expects H2 revenue to benefit from new energy, aerospace and turbine blade orders

Company has secured process gas supplies at known costs for the remainder of the yr

Hardide expects full-yr performance in line with recently upgraded expectations

Result Drivers

ENERGY SECTOR CONTRACTS - Revenue growth was primarily driven by additional orders from a major new North American energy sector customer and increased demand across the energy portfolio

CAPACITY UTILISATION & OPERATIONAL EFFICIENCY - Improved capacity utilisation and operational efficiency gains contributed to higher gross and operating margins

COST CONTROL & INPUT COST MANAGEMENT - Input cost pressures, especially for tungsten gas, were largely offset by selling price surcharges and internal operational efficiencies

Company press release: ID:nRSU1689Fa

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
H1 Revenue
GBP 4.8 mln
H1 EBIT
GBP 1.3 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 GBp52.00, about 35.1% above its May 20 closing price of GBp38.50

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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.)