Bodycote Trading Update

Bodycote, the worlds largest heat treater just released a trading update for the four month period from 1 July to 31 October 2018. A summary can be found below with all the details at

“Group revenue for the period was £243.5m, 5% higher than the comparative period last year and 6% higher at constant currency, and in line with our expectations. This represents solid growth, particularly given the strong performance in the comparative period in 2017. Group revenue for the 10 months to 31 October 2018 grew 6% (8% at constant currency), with Specialist Technologies continuing its strong growth, up 11% at constant currency (both in the period and year-to-date). All percentage movements in the following review of the Group’s markets compare to the same period in 2017, at constant currency. Car and light truck revenues grew 5%, notwithstanding weak background market demand in Europe and North America. The growth has been driven by continued strong performance in Emerging Markets and Specialist Technologies. Civil aerospace revenues grew strongly at 14%, with North America and Western Europe both registering good growth. This reflects increasing output for the LEAP program and an easing in the OEM supply chain bottlenecks for Titanium castings. Energy revenues grew 4%, as the Oil & Gas business continues to perform well, while our Industrial Gas Turbines (IGT) business weakened further with underlying revenues falling by more than 25% in the period. General industrial revenues were 4% higher, in line with the general trends in industrial production. On a divisional basis, ADE revenues were up 6% to £97.8m (up 6% at constant currency, and for the 10 months to 31 October 2018, 8% ahead), while AGI revenues were up 5% to £145.7m (up 6% at constant currency, and for the 10 months to 31 October 2018, up 8%).”