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Trading statements

Bodycote revenues up

18 November 2016 09:38

Bodycote's revenue for the four months ended 31 October was 12.7% higher than the corresponding period last year and 3.1% lower at constant exchange rates, against somewhat weak comparables.

A trading update says that several new sites were acquired in the period with annualised sales of £14m.

It says: "The contribution to full year 2016 EPS from the new businesses will be minimal while they are integrated into the Group. Revenues were 13.2% higher (2.7% lower at constant exchange rates) after excluding revenues accrued in the same period last year in businesses subsequently sold or closed, most notably the Group's former operations in Brazil.

"Aerospace, Defence & Energy revenues were 10.0% higher (4.2% lower at constant exchange rates) and Automotive & General Industrial revenues were 14.7% higher (2.2% lower at constant exchange rates)."

The board's guidance for full year 2016 headline operating profit remains unchanged from the time of the interim results.

The update says: "Market conditions remain challenging and, while noting the group's short forward visibility, the board does not anticipate any near term changes in demand patterns in any of the major market sectors that the group serves. However, the quality of our portfolio and a strong financial position places the group well to take advantage of any opportunities that arise."

At 9:38am: (LON:BOY) Bodycote PLC share price was -2.5p at 585.5p

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