Bodycote to breeze past forecasts

9th Jul 2010 07:08

Steady and broad based progress is being made at engineering firm Bodycote leaving it on course to comfortably exceed the highest broker forecast for full year operating profit.Revenue for the first half of 2010 is expected to be 8% higher than the first half of 2009, or 9% higher at constant exchange rates.Demand levels remain uncertain and possibly uneven, the company said. Sales in the second half are expected to be affected by the usual seasonal pattern of customer requirements and are therefore likely to be lower than in the first half.Even taking into account the seasonal factors, if current levels of demand are sustained the board expects full year headline operating profit will be "significantly above" the current range of broker forecasts which runs from £27.2m to £34.7m.