Bodycote YTD revenues grow

Heat treatments firm Bodycote said on Wednesday that year-to-date revenues had improved, as ADE revenue growth helped offset weakness in emerging markets.

Bodycote said it had delivered year-to-date revenues of £677.0m, representing growth of 10% year-on-year and 6% when excluding energy-related surcharges and at constant currency.

In the four months ended 31 October, Bodycote delivered revenues of £257.0m, up 4% year-on-year at constant currency on both a pre and post-surcharge basis. Operating margins increased in line with internal expectations.

ADE revenues were up 10% at £116.0m and AGI revenues were down 1% at £140.0m, while divisional revenues in emerging markets declined by 7%, with lower activity in China and Eastern Europe.

The FTSE 250-listed group stated that as a result of the "good progress achieved year-to-date, its expectations for full-year remained unchanged. Looking beyond this year, Bodycote said it was "confident" in its prospects for continued profitable growth.

As of 0935 GMT, Bodycote shares were down 0.42% at 591.0p.

Reporting by Iain Gilbert at Sharecast.com