Hardide, the leading provider of surface-coating technology in the UK, has announced its expected revenue growth for the year ending September 30. The company anticipates a 10% increase in revenue, reaching £5.5 million ($6.7 million). Moreover, Hardide is confident that it will continue to see growth aligned with its strategic plans in fiscal year 2024.
Positive Financial Outlook
With regards to earnings, Hardide expects its earnings before interest, taxes, depreciation, and amortization to be close to breakeven for fiscal year 2023. This marks a significant improvement compared to the GBP900,000 Ebitda loss experienced in the previous fiscal year.
Aerospace Sector Drives Growth
Hardide’s board is encouraged by the recent surge in sales to the aerospace sector, particularly during the final quarter. The company has been receiving regular orders and customer schedules indicate further growth throughout 2024 and early 2025 for the coating of existing orders.
Anticipated Repeat Orders in Fiscal Year 2024
Furthermore, Hardide anticipates repeat orders for the coating of gas turbine compressor blades in fiscal year 2024, a business opportunity that was initially expected to occur in fiscal year 2023. The company is also actively exploring business development opportunities in the gas and steam turbine markets, with ongoing trials.
Focused on Revenue Growth and Cost Management
Hardide’s board is fully committed to accelerating revenue growth through various initiatives such as sales, marketing, and business development. However, they remain steadfast in their disciplined approach to cost management and working capital management.