LONDON (dpa-AFX) - Bodycote plc (BOY.L), on Tuesday, issued trading update for the four-month period from 1 July to 31 October 2021, and reported 4-month group revenue growth of 3%.
Group revenue for the period was £200.1 million, 3% higher than last year, with ADE revenues of £81.3 million, up 4% at actual rates, up 9% at constant currency; and AGI revenues of £118.8 million, up 3% at actual rates, 8% at constant currency.
Group revenue for the 10 months to 31 October 2021 was £513.0 million, 3% up on last year.
The company further noted that underlying cash flows in the period remained strong. Higher energy costs and labour inflation are being passed onto customers and margins remain healthy as the company benefited from cost savings associated with the restructuring programme initiated in 2020. Net debt, excluding lease liabilities, at 31 October 2021 was £62 million.
Beyond the short term, Bodycote expects a stronger automotive market in due course, continued good performance in its general industrial business, and accelerating growth in civil aerospace revenues.
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