logo
  

Bodycote Posts Higher Revenues; On Track To Meet FY22 Targets

Bodycote plc (BOY.L), a provider of heat treatment and thermal processing services, Friday reported strong revenue growth in its third quarter, and said it is on track to meet fiscal 2022 expectations.

In its trading update covering the four month period from July 1 to October 31, the company reported that total Group revenue for the period grew 29 percent on last year to 258 million pounds. The growth was 22 percent at constant currency.

AGI revenues were 148 million pounds, 24 percent higher than last year on a reported basis and up 21 percent at constant currency. ADE revenues were 110 million pounds, 35 percent higher than last year on a reported basis and up 24 percent at constant currency.

Volume contributed 7 percent to revenue growth with foreign exchange translation contributing 7 percent. In addition, revenues were benefited by price increases and energy surcharges of approximately 15 percent in total.

Automotive revenues were up 18 percent from last year at constant currency. General Industrial revenues grew 25 percent. Aerospace & Defence revenues grew 19 percent.

Emerging market revenues were up 47 percent, reflecting the highest level of energy surcharges in the Group, as well as double digit volume recovery in China and Mexico.

Specialist Technologies' revenues grew 22 percent with solid volume growth, particularly in the ADE focused Specialist Technologies.

Regarding its outlook, the company said civil aerospace volumes continue to grow strongly, with General Industrial volumes growing more modestly and automotive volumes flat.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
The U.S. Consumer Product Safety Commission or CPSC announced recall of thousands of children's Robes made in China and sold exclusively on Amazon.com by various companies. The recalled robes fail to meet the federal flammability standards for children's sleepwear, posing a risk of burn injuries to children. Further, citing the same concerns, Paper Cape children's pajamas manufactured in Peru ... Health services company Cigna Corp. reported Friday higher profit in its fourth quarter reflecting growth in both Evernorth and Cigna Healthcare segments. Adjusted earnings and topline beat market estimates. Looking ahead for fiscal 2023, the company projects adjusted earnings and adjusted revenues to be higher than last year, but below market view. French drug major Sanofi SA reported Friday higher profit in its fourth quarter with strong revenue growth mainly with strong sales of Dupixent. Looking ahead for fiscal 2023, the company projects higher business earnings, but the expected growth is slower than recorded in fiscal 2022. Sanofi shares were losing around 4 percent in the morning trading in Paris as well as in pre-market activity...
RELATED NEWS
Follow RTT