30th May 2018 09:29
LONDON (Alliance News) - Bodycote PLC said Wednesday it expects its annual revenue and profit to be higher than previously expected.
For the first four months of the year, from January to April, the company, which provides heat treatment and specialist thermal processing services, reported a 7% increase in revenue compared to the same period last year.
Due to this "robust" growth, Bodycote expects full-year revenue to be higher than previously expected and its headline operating profit to be "slightly ahead" of consensus.
The heat treatment and specialist thermal processing company's Aerospace, Defence & Energy business like-for-like revenue increased 5% to GBP94 million in the first four months. Its Automotive & General Industrial like-for-like revenue increased 9% to GBP149 million.
The company's net cash at the end of April was GBP45 million compared to GBP40 million at the end of 2017.
Shares in Bodycote were up 7.6% Wednesday at 995.00 pence each, the top gainer in the FTSE 250 index.
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