“At the interim results we indicated that there had been some modest improvement in automotive demand, compared to the very depressed levels in the early part of the year, but that aerospace and oil and gas demand was softening,” the report said. “In the period 1 July to 31 October, sales were 26.4% lower than the same period last year (32.6% in constant currency) and overall sales levels and segmental trends have broadly remained similar to those seen in the second quarter.”
The group recorded a headline operating loss of £1.7m for that period, compared to a headline operating profit of £41.0m for the same period of 2008.
Bodycote says that it still going ahead with its previously announced restructuring plans and the company has begun the reorganisation of its activities in Brazil.