9th Jul 2010 07:00
EMBARGOED UNTIL: 07:00 HOURS FRIDAY 9 JULY 2010
Bodycote plc Trading Update
Bodycote plc is providing the following trading update ahead of its interim results announcement on 28 July 2010.
The Group has continued to see a steady and broad based improvement in demand since the time of the IMS on 28 April 2010. Consequently, revenue for the Group for the six months to 30 June 2010 is expected to be 8% above the same period last year (9% at constant exchange rates). At the same time, the Group continues to benefit from the planned reduction in its cost base as a result of the wide-ranging restructuring programme, which commenced in late 2008 and is nearing completion.
Looking ahead, demand levels remain uncertain and possibly uneven. Sales in the second half are expected to be impacted by the usual seasonal pattern of customer requirements and are therefore likely to be lower than in the first half.
Against this backdrop, if current levels of demand are sustained and allowing for normal seasonal differences between the first and second half, the Board now expects that headline operating profit for the year will be significantly above the top of the current range1 of full year forecasts.
1 Range of current analysts' forecasts for full year 2010 EBIT (headline operating profit) (Bloomberg) = £27.2m to
£34.7m
For further information, please contact:
Bodycote plc
Stephen Harris, Chief Executive +44 (0) 1625 505300
David Landless, Group Finance Director +44 (0) 1625 505300
Financial Dynamics
Jon Simmons +44 (0) 20 7831 3113
ENDS
vendorRelated Shares:
Bodycote