StockMarketWire.com - Bodycote trimmed its outlook on annual revenue as expectations for a strong Q4 rebound automotive revenue wasn't expected to materialise.

For the four-month period from 1 July to 31 October 2021, revenue rose 3% to £200.1 million year-on-year.

Automotive revenues declined 6%, with the 10% decline in car and light trucks more than offsetting good growth in heavy truck and bus owing to supply chain bottlenecks in the automotive industry.

The company said that it had expected expected Q4 automotive revenues to rebound, resulting in H2 revenues across the group for automotive being broadly flat against H1.

But now it no longer believe that its Q4 revenues can offset the Q3 decline, and forecasts full year revenue would be up to £10 million lower than its previous expectations.


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