Hardide upgrades expectations after securing follow-on order

(Sharecast News) - Hardide said on Tuesday that it has secured a further follow-on order worth $1m from a North American customer, prompting the AIM-traded surface coating specialist to lift its expectations for the current financial year. It said the new order followed an initial contract announced in December and was scheduled for delivery in the second half of the financial year ending 30 September.

As a result, Hardide said it now expected its financial performance for the 2026 period to be ahead of previous expectations.

In response to rising demand in the region, the group said it planned to begin upgrading infrastructure at its Martinsville plant during the year to improve operational efficiency and support higher volumes in North America.

The investment was expected to be funded through proceeds from the new order alongside existing resources.

"We are delighted to have secured this significant new sales order, which further evidences the strength of the relationship we are developing with our new North American customer," said chief executive Matt Hamblin.

"Discussions are ongoing as to how Hardide can support the customer's business development ambitions later this year and thereafter."

At 1037 GMT, shares in Hardide were up 34.37% at 21.5p.

Reporting by Josh White for Sharecast.com.