Bodycote (
www.bodycote.com), the Manchester-based provider of heat-treatment services world-wide, has reported that its revenues for the first four months of the year were £227 million — an increase of 18% compared with the same period last year.
Sales were higher by 3.9% year on year. Its automotive and general industrial business turnover increased by 23.2%, while its turnover in the civil-aviation sector increased by 3.8% year-on-year as the company continued to experience good growth in western Europe.
Revenues from the car and light-truck sector increased by 7.9%, with strong growth in Europe and emerging markets.
However, the company said that weak revenues from the defence sector and lower revenues from the oil and gas sector substantially offset this growth.
In a statement it said: “Bodycote’s performance in the first four months of the year has been robust and in line with the board’s expectations. Accordingly, the group’s outlook for the year as a whole remains unchanged.”
Net cash at 30 April was £10.6 million, compared to £1.1 million at 31 December. Bodycote said this represents a “relatively strong cash-flow for the period, as the company controlled costs and managed working-capital flows well.”