LONDON (dpa-AFX) - Bodycote Plc (BOY.L), a provider of thermal processing services, reported Tuesday lower organic revenues in the four months to April 30, reflecting weak performance in its core business.
The company further said its full-year outlook is in line with current market expectations of revenue of 718 million pounds and operating profit of 121.5 million pounds.
In its trading update covering the period from January 1 to April 30, the company reported group revenue of 246 million pounds, 6% below prior year on an organic basis.
Revenue in Core business was 5% lower organically, reflecting a strong prior year comparator and a headwind of 1% from lower energy surcharges year-on-year.
Bodycote noted that supply chain conditions have improved in Civil Aerospace through the first four months, with a notable acceleration in March and April. Defence revenue has also seen continued growth, led by Western Europe.
Meanwhile, conditions remain challenging in Automotive and Industrial Markets.
In Specialist Technologies, revenue was 11% lower year-on-year organically. Precision Heat Treatment revenue dropped 2% organically year-on-year.
Regarding tariffs, the company said it is closely monitoring the ongoing global trade discussions and tariff announcements and that it has no material direct exposure to cross-border tariffs.
Looking ahead, the company said, 'Adjusted operating profit in 2025 is expected to be second-half weighted. This reflects the progressive delivery of Optimise benefits through the year, as well as improved performance in Specialist Technologies supported by new contracts we have won in Defence and Oil & Gas, and further growth in Aerospace & Defence. Reflecting the uncertain macro-economic environment, our focus is on operational delivery and maintaining strict control of our cost base.'
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