Hardide on track

Hardide expects to report preliminary year-end results that are in line with current market forecasts with H2 seeing an improvement over H1, as projected at the time of the interim results.

The group says there are signs of a slow recovery from oil and gas markets, both from existing customers and from new opportunities.

A trading update says: "Our progress towards gaining aerospace business following Airbus technical approval is on-track and is looking positive across a range of applications for Airbus and other customers.

"Our new US coatings facility in Virginia has achieved the required major customer approvals after extensive verification trials and is now regularly producing revenue.

"The recent successful fundraising totalling £1.6m will enable the Company to progress with its plans for future developments and growth."

The Board expects to release preliminary results on 12 December.