5th Oct 2015 08:13
LONDON (Alliance News) - Surface coating technology provider Hardide PLC on Monday said it anticipates its full-year results will be in line with current market expectations.
Hardide said that following a record first half, the second half of its financial year to the end of September was softer, directly due to a decline in exploration and drilling spending in the oil and gas industry.
Still, the group said it made progress in the year on diversifying its customer base and said customer trials are progressing well.
The company added the opening of a new US coatings facility in Virginia is on track, with the site set to be fully operational by the end of 2015.
Shares in Hardide were down 11% to 0.825 pence on Monday.
By Sam Unsted; [email protected]; @SamUAtAlliance
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