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The group’s half-year results illustrate the continuing difficult market conditions in oil & gas – its largest end-market. Significant progress with new customer programmes has been seen in the precision engineering and aerospace sectors. Airbus has received its first delivery of coated components for life testing, with several other aerospace components in development or testing. The new US facility is now operational and currently undergoing customer approval. We make no changes to our forecasts, but it is clear that difficult market conditions will continue to suppress trading for at least the next 18 months. Due to new orders recently received, management expect revenues to increase in H2. finnCap's note from this morning on Research Tree
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