Bodycote shares up on higher revenue, profit guidance

Shares of Macclesfield-based engineering and thermal processing giant Bodycote rose about 8% after it said it expects full year revenue to be higher than previously expected and headline operating profit to be slightly ahead of current analysts’ consensus.

Bodycote said the company-compiled consensus for headline operating profit is £133.1 million with a range of £124.5 million to £140 million.

In a trading update, Bodycote said group revenue for the four months ended April 30 was £243 million, 7% higher than the same period last year and 10% higher at constant currency.

“We have seen robust growth in the first four months of the year in spite of the foreign currency headwind,” said Bodycote.

“At this early stage, and notwithstanding the group’s limited visibility, the board now expects full year revenue to be higher than previously expected and headline operating profit to be slightly ahead of current analysts’ consensus.”