Hardide shares surge on PS1.8 million order from US energy customer
Hardide PLC shares jumped on Monday as it said it has received £1.8 million of orders from an unnamed ‘major new North American customer in the energy sector’.
Hardide shares surged 49% to 9.85 pence on Monday afternoon in London.
The Bicester, England-based provider of advanced surface coating technology said the orders exceed initial expectations and will benefit revenue in the first half of financial 2026.
The firm said it now expects revenue and financial performance for financial 2026 to be ‘materially higher’ than its previous expectations.
Hardide said discussions are continuing with the customer to plan for ongoing demand later in 2026, with the potential for higher demand in 2027 and beyond.
The firm highlighted the importance of its Martinsville, US facility in meeting delivery schedules.
It noted ‘a great deal of interest from major oil and gas companies’ in its surface coating solutions.
‘The growing relationship with this significant new customer is a highly exciting development for Hardide. In the immediate future it will enable us to build on last year’s strong revenue growth of over 25%,’ said Chief Executive Officer Matt Hamblin.
‘It also brings us an important step closer to achieving our strategic milestone of more than doubling [financial 2024]’s revenues to over £10 million as soon as possible, leveraging existing spare capacity to generate attractive operating margins.’
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