Bodycote PLC on Wednesday said its aerospace-focused arm has delivered revenue growth recently, though the heat treatment and thermal processing services provider noted a weaker outturn in China.
Bodycote shares traded 1.4% lower at 585.50 pence each in London on Wednesday morning.
In the 10 months to October 31, revenue has grown 10% on-year to £677 million. Operating margins have increased in line with expectations, the Cheshire-based firm said.
In the four months to October alone, revenue climbed 4% to £257 million.
Bodycote said Aerospace & Defence revenue increased by 13% at constant currency. It said that while aerospace supply chain issues remain, conditions are improving.
Automotive revenue declined 2%, however.
‘The reduction in growth versus the first half of the year reflected the more modest increases in car and light truck production rates and the United Auto Workers strike,’ it added.
Bodycote added that divisional revenue in its Emerging Markets segments declined 7%, amid ‘lower activity in China and Eastern Europe’.
Copyright 2023 Alliance News Ltd. All Rights Reserved.
