Bodycote feels the impact of currency fluctuations

Macclesfield-based thermal processing services company, Bodycote, has reported its results for the three months ending 31 March 2015 and said that currency fluctuations have meant that revenue is 0.9% lower than the same period last year.

Its aerospace, defence and energy business revenues were 3.2% higher compared to the same period in 2014, however its automotive and general industrial business revenues decreased by 3.9%.

Car and light truck revenues increased by 6.2%, with double-digit growth in North America and the Emerging Markets.

In February the group reported its pre-tax profit had risen by 5.4% at £103.7m for 2014.

The company said: “While noting that the group has limited forward visibility, given the performance in the first quarter of 2015, the board’s expectation is unchanged, on a constant currency basis, from the time of the 2014 annual results’ announcement in February.”