27th May 2016 06:34
LONDON (Alliance News) - Bodycote PLC on Friday maintained its expectations for 2016, as revenue fell in the first four months of the year.
The FTSE 250-listed company, which supplies heat treatment, metal joining, hot isostatic pressing and coatings services, said group revenue for the four months to the end of April was GBP192.4 million, down 4.9% year-on-year, or 9.1% at constant currencies.
After taking into account Bodycote's exit from its business in Brazil and the restructuring actions it announced in 2015, like-for-like revenue fell 2.7%, it said, and 7.0% at constant currencies.
Aerospace revenue was flat in the period, while car and light truck revenue grew, but sales to the oil and gas sector slightly more than halved in the period, reflecting both weak conditions in the market and a strong year-before comparable, Bodycote said.
By Sam Unsted; [email protected]; @SamUAtAlliance
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