At £156.5m, it was in line with the Bodycote board’s expectations, as stated in the 2012 annual results. Acquisitions made in 2012 added 8.5% (£12.8m) to group revenue, whilst the organic revenue (at constant exchange rates) was lower by 5.6% (£8.5m) compared to the first quarter of 2012. Excluding acquisitions, however, the sales run rate for the group at the end of the first quarter of 2013 was slightly higher than the run rate in the final quarter of 2012. Aerospace, Defence & Energy revenue was higher than in the first quarter of 2012 by 6.5% (5.5% at constant exchange rates), although organic revenue was lower by 0.5%. Aerospace and Defence revenue was higher by 6.2%, almost all of which was attributable to acquisitions.
The Automotive & General Industrial business saw revenues increase by 2.4% (1.4% at constant exchange rates). Organic revenue was lower than in the same period of 2012 by 6.9%, but this was more than offset by the benefit of acquisitions completed in 2012. Within this, organic revenue growth from the Car and Light Truck sector was good nearly everywhere, with 5.8% growth compared to the first quarter of 2012. The growth was helped by further gains in market share.
Find us on Google? Click here to sign up to receive our weekly e-newsletter and get news sent directly to your inbox!
