Bodycote has reported 2015 adjusted PBT of £99.2m, in line with N+1S and consensus expectations. The outlook statement appears solid, although due to the group’s own efforts rather than an improvement in its markets. However we note that the LFL decline in Q4 appears to have shown a slight improvement vs Q3. We expect sentiment to become more positive as the year progresses, reflecting continued strong execution and comparatives which begin to ease from Q2. We retain our Buy recommendation.
25 Feb 2016
2015 results in line; see sentiment improving through 2016
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2015 results in line; see sentiment improving through 2016
Bodycote plc (BOY:LON) | 692 -6.9 (-0.1%) | Mkt Cap: 1,316m
- Published:
25 Feb 2016 -
Author:
Jo Reedman -
Pages:
4
Bodycote has reported 2015 adjusted PBT of £99.2m, in line with N+1S and consensus expectations. The outlook statement appears solid, although due to the group’s own efforts rather than an improvement in its markets. However we note that the LFL decline in Q4 appears to have shown a slight improvement vs Q3. We expect sentiment to become more positive as the year progresses, reflecting continued strong execution and comparatives which begin to ease from Q2. We retain our Buy recommendation.