Bodycote plc (BOY.L), a provider of heat treatment and specialist thermal processing services, Thursday reported revenue of 268 million pounds for the four-month period from January 1 to April 30, down from 281 million pounds in the comparable period last year. The company said this was primarily due to surcharges which halved to around 14 million pounds as energy prices fell, and a foreign exchange headwind of 10 million pounds year-on-year.
On an organic basis, excluding surcharges, revenue rose 2.7 percent at constant currency, driven by 10.5 percent growth in Specialist Technologies.
Looking ahead, the company said, "The performance supports our expectation of further progress in 2024, including another step towards our medium-term operating margin target of more than 20%."
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