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(Sharecast News) - Heat treatment specialist Bodycote said on Wednesday that trading over the first four months of the year was in line with expectations, with the group maintaining its fullyear outlook as strong growth in its core business offset the impact of ongoing plant exits.
Bodycote said group revenues were up 1.9% at constant currency, while core revenues rose 9% against a soft comparator, with the company highlighting continued strong momentum in aerospace and defence and accelerating demand in industrial gas turbines.
Industrial markets were flat overall, with solid European activity offset by weaker US volumes, while automotive revenue declined in line with lower global lightvehicle production.
Bodycote's specialist technologies unit led divisional performance, with 16.5% organic growth, while its precision heat treatment arm reported organic growth of 4.8%. Bodycote said the stronger showing in its specialist technologies division reflected both favourable endmarket exposure and the unwinding of prioryear headwinds in oil & gas and medical.
The FTSE 250-listed group also highlighted that 21 noncore sites have now been exited, with three more ceasing operations, and revenue transfers and costs tracking to plan.
Looking ahead, Bodycote reiterated expectations for core organic revenue growth and improved margins in FY26, though it cautioned that growth would moderate through the year as comparators toughen and geopolitical uncertainty remains elevated.
As of 1110 BST, Bodycote shares were up 0.72% at 842.50p.
Reporting by Iain Gilbert at Sharecast.com
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