Bosses at a hi-tech Bicester engineering firm are upbeat for the future, despite slipping further into the red.
Hardide, which manufactures super-hard coatings for drills used in the oil business, saw its losses grow to £1.795m in the year to September 30 - an increase of £889,000 on the same period last year - but turnover has risen by 31 per cent to £2.47m.
Chief executive Jim Murray-Smith said the UK operation headquartered at Wedgwood Road, was profitable and the losses had widened due to investment in the manufacturing facility in Houston, Texas.
He added: These results will serve as a solid platform for the group as it aims to report an overall profit in the current financial year."
Hardide employs 30 people in Bicester - up from 25 last year.
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