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Bodycote 4-month Revenues Rise - Quick Facts

Bodycote plc (BOY.L), a provider of heat treatment and thermal processing services, Wednesday reported that its group revenue for the four months to April 30 grew 11 percent on a reported basis and 12 percent at constant currency to 230 million pounds.

In its trading update, the company noted that trading in the first three months of the year has been in line with expectations. However, April saw material shortages at customers driven by supply difficulties out of China. The war in Ukraine has also begun to impact customers, though the company has no direct exposure to Russia or Ukraine.

In the four months, revenue benefited from price increases and energy surcharges. AGI revenues were 136 million pounds, up 5 percent on last year. ADE revenues grew 20 percent to 94 million pounds.

At constant currency, automotive revenues were down 7 percent, while General industrial revenues, including energy, were up 21 percent, Aerospace & defence revenues were 18 percent higher, and emerging market revenues were up 18 percent.

Looking ahead, the company noted that over recent weeks it has seen unprecedented volatility emerging in its workflows driven by material shortages at customers. This has resulted in a widening of the range of possible outcomes for this year.

Beyond the short term, the outlook for the business remains positive as the company anticipates a stronger automotive market in due course, continued good performance in general industrial business, and further growth in civil aerospace revenues.

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