Profit jump lifts shares in Bodycote

first_imgWednesday 13 October 2010 7:54 pm whatsapp Profit jump lifts shares in Bodycote whatsapp SHARES in Bodycote shot up more than nine per cent yesterday after the engineer revealed that full-year profit would come in at the top of analysts’ expectations. Bodycote said renewed demand from heavy truck customers such as Scania and Volvo has helped push revenue in the nine months to 30 September up 13 per cent. Sales to the aerospace and defence sectors saw some pick-up towards the end of the third quarter, while gas turbine revenues stabilised but remained at low levels. Oil and gas sales continued to be solid.Turnover during the summer was stronger than expected, as the company suffered less than feared from customer summer shut-downs. Analysts expect full-year operating profit of £38.5m to £49m on the back of sales of around £473.5m, said a Thomson Reuters poll.Bodycote said cost savings from its restructuring were in line with the £44.5m per year it predicted earlier in 2010. The company said in February it expected the economic recovery to take place over a number of years, as it posted pre-tax profit of £3.7m for the year compared to £67.6m in 2009. Shares in the FTSE 250 firm closed 9.06 per cent up at 301p yesterday. Share center_img Tags: NULL by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryNoteabley25 Funny Notes Written By StrangersNoteableyTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesBrake For ItThe Most Worthless Cars Ever MadeBrake For ItBetterBe20 Stunning Female AthletesBetterBemoneycougar.comThis Proves The Osmonds Weren’t So Innocentmoneycougar.comMagellan TimesThis Is Why The Roy Rogers Museum Has Been Closed For GoodMagellan Times Show Comments ▼ Read This NextRicky Schroder Calls Foo Fighters’ Dave Grohl ‘Ignorant Punk’ forThe WrapCNN’s Brian Stelter Draws Criticism for Asking Jen Psaki: ‘What Does theThe WrapDid Donald Trump Wear His Pants Backwards? Kriss Kross Memes Have AlreadyThe WrapHarvey Weinstein to Be Extradited to California to Face Sexual AssaultThe Wrap’Sex and the City’ Sequel Series at HBO Max Adds 4 More ReturningThe WrapPink Floyd’s Roger Waters Denies Zuckerberg’s Request to Use Song in Ad:The Wrap’The View’: Meghan McCain Calls VP Kamala Harris a ‘Moron’ for BorderThe WrapNewsmax Rejected Matt Gaetz When Congressman ‘Reached Out’ for a JobThe Wrap2 HFPA Members Resign Citing a Culture of ‘Corruption and Verbal Abuse’The Wrap KCS-content last_img

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