- Surface coating technology developer Hardide posted an annual loss after rising sales were offset by higher administrative expenses.

Pre-tax losses for the year through September amounted to £0.9m, compared to losses of £1.2m on-year.

'Hardide has reached an inflexion point, with record sales across all geographies,' chairman Robert Goddard said.

'The board is pleased with the group's performance and the positive trading outlook.'

'Our key oil and gas customers are experiencing a broad-based recovery in activity and are predicting that the current positive cycle will continue and that the supply-demand balance will remain favourable.'

'This is positive news for Hardide and supports the group's strategy to invest ahead of revenue as it drives towards profitability in the coming year.'

At 2:21pm: [LON:HDD] Hardide PLC share price was +0.13p at 1.45p

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