Bodycote Sees 2010 Operating Profit Topping GBP34.7M

9th Jul 2010 07:47

LONDON (Dow Jones)--Engineer Bodycote PLC (BOY.LN) Friday said if current levels of demand continue throughout its second half, it expects to post a 2010 headline operating profit "significantly" above the top end of current market expectations. The firm, which previously said it expected its 2010 profit to come in at the top end range of analyst expectations, said it has continued to witness a steady improvement in demand since it last updated the market in April. First-half revenue is now expected to be up 8% on the year and the firm said it continues to benefit from the planned reduction in its cost base following a wide-ranging restructuring program. Bodycote said future demand levels remain "uncertain and possibly uneven," with second-half sales likely to be lower than in the first half due to the impact of usual seasonal patterns of customer requirements. Nonetheless if demand follows the normal seasonal differences between the first and second half it said it should exceed the top-end of analysts' full-year operating profit forecast of GBP34.7 million. -By Hannah Benjamin, Dow Jones Newswires; 44-20-7842-9298; [email protected] (END) Dow Jones Newswires July 09, 2010 02:47 ET (06:47 GMT)