Hardide plc (LON:HDD), the developer and provider of advanced surface coating technology, announces its preliminary annual results for the year ended 30 September 2023, which remain subject to audit sign off.
FY23 Financial Highlights
FY23 | FY22 | Change | |
Revenue (£m) | 5.5 | 5.0 | +10% |
Gross margin % | 47.5% | 37.5% | +10 ppts |
EBITDA (£m) | (0.1) | (0.9) | +£0.8m |
Loss before tax (£m) | (1.2) | (2.3) | +£1.1m |
Business cash flow before financing (£m) | 0.1 | (1.2) | +£1.3m |
Cash balance at 30 September (£m) | 0.7 | 0.7 | – |
· Revenue increased by 10% to a record £5.5m due to strong oil & gas sector demand, new aerospace work increasing in Q4 and successful recovery of cost inflation in selling prices