Hardide (AIM:HDD) said revenue for the financial year ended 30 September more than doubled to £13.5m, from £6m in FY25.
The AIM-listed advanced surface coatings specialist reported EBITDA of £5.8m, up from £1m, and pre-tax profit of £4.9m, against £0.2m a year earlier, with both measures ahead of market expectations that the company said stood at EBITDA of £5.5m and pre-tax profit of £4.6m.
Hardide attributed the outperformance to improved cost management and continuous improvement initiatives, and said final-quarter revenue of £4.6m generated EBITDA of approximately £1.9m.
The company delivered first shipments of coatings for a new generation of parts for its major North American customer during the quarter, leading to a further $1.9m sales order covering the period to November, first announced on 14 September.
Hardide also won further production work in the aerospace sector and secured new customers in energy and industrials, all expected to contribute to FY27 revenue, while testing continues with a potential major Middle East energy customer and with semiconductor-sector customers, which it described as encouraging.
Gross cash stood at £3.2m at the year end, up from £0.7m a year earlier, after a £1.5m investment in working capital to support growth and secure process gas supplies covering most of FY27's anticipated requirements at known costs.
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The company has paid a £0.7m deposit toward new coating reactors with a total expected cost of £3.5m, previously announced as set to double Hardide's operational capacity to approximately £40m of annual sales, with the new capacity scheduled to come on stream in the second half of FY27.
Hardide said current trading momentum and recent order intake underpin market expectations and position the business for further significant growth in FY27, consistent with its objective of more than doubling revenue again over the next two to three years; full audited annual results are due on 10 December.