Advanced surface-coating specialist Hardide plc (AIM: HDD) has secured a substantial £1 million follow-on order from a key North American customer.
The order, from the same ‘major new North American customer’ revealed in the company’s 1 December announcement, is scheduled for delivery in the second half of Hardide’s financial year ending 30 September 2026.
The £1 million deal adds to an initial £1.75m deal announced in December last year.
In late January, Hardide announced its annual results, showing a 30% increase in revenue and a 50% jump in gross profit for the year to 30 September. These two orders ensure the firm is off to a good start this year, and management now expects FY26 financial performance to exceed previous forecasts.
The additional revenue will fund infrastructure upgrades at Hardide’s Martinsville plant. The improvements aim to boost operational efficiency and accommodate surging demand across North America. The company plans to finance the investment with proceeds from the latest order, along with existing resources.
Hardide shares were 20% higher at the time of writing.