Bodycote shines on strong full-year forecast

28th Jul 2011 10:24

Bodycote expects its full-year results to come in ahead of forecasts after a strong first half for the metals and alloys treatment company.In the six months to 30 June, pre-tax profits at the company, which works in the aerospace, car, defence and other sectors, climbed to £40.3m from £19.1m the previous year on revenues that rose to £288.2m from £246.3m."Bodycote has continued to grow strongly in all markets, with new customer accounts, strategic initiatives and the general market recovery all contributing," chief executive Stephen Harris said. "Our low cost base and drive for operational excellence is evident in the high operational gearing - headline operating profits rose 92% on a 17% increase in revenues."He said the board's expectations for the full-year are "somewhat above the top of the range of analysts' current forecasts."At 10.40am, shares in Bodycote were up by 7% at 383.5p.---RG