Hardide down as sales slow

The price of shares in AIM-listed surface coatings firm Hardide (LON:HDD) dropped by 6.56% to 28.50p (as of 16:15 BST) after the firm reported that customer demand had slowed since the end of March. The lower level of demand is expected to last for the remainder of the financial year and, despite taking cash control measures, management anticipate an adjusted EBITDA loss.

A number of projects have been delayed but orders from existing customers continue to come in and there are a number of oil and gas projects in the planning phase.