Bodycote revenue up to £243m in four months

Macclesfield-based engineering and thermal processing giant Bodycote on Thursday issued a trading update covering the four month period through October 31, 2018, saying revenue rose 5% to £243.5 million, in line with our expectations.  

“Car and light truck revenues grew 5%, notwithstanding weak background market demand in Europe and North America,” said Bodycote.

“The growth has been driven by continued strong performance in emerging markets and specialist technologies. 

Civil aerospace revenues grew strongly at 14%, with North America and Western Europe both registering good growth …

“Energy revenues grew 4%, as the oil & gas business continues to perform well, while our industrial gas turbines (IGT) business weakened further with underlying revenues falling by more than 25% in the period. 

General industrial revenues were 4% higher, in line with the general trends in industrial production …

“As anticipated, the pace of revenue growth will moderate in the last two months given the strong prior year comparator.

“Bodycote’s outlook for 2018 remains unchanged.”