Bodycote maintains guidance as revenues come in flat
Bodycote
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16:40 19/04/24
Thermal processing specialist Bodycote maintained full year guidance as group revenue for the four months of to April 30 rose 1% to £245m.
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The company said it had seen “excellent” growth in civil aerospace revenues, offset by anticipated weakness in automotive and general industrial revenues against strong comparatives from the same period last year.
Bodycote said it was also analysing whether it may need to book an exceptional charge after the European Union ruled that certain tax exemptions breached state aid rules. The company had identified a potential £20m liability.
“The full year outlook for civil aerospace remains strong, and revenue growth for specialist technologies' is also expected to be good. With easing comparatives in automotive in the second half of the year, and provided current macroeconomic conditions do not deteriorate, year on year growth should strengthen,” the company said in a statement.