Bodycote shrugged off fears of a renewed downturn, posting 13.3 per cent revenue growth in the third quarter. The announcement, which suggested full-year profits would be "towards the upper end" of forecasts, sparked a buying spree that pushed the shares up 9 per cent to 301p.
IC TIP:
Hold
at
301p
The heat-treatment specialist is a major player in the automotive market, where its services strengthen or straighten essential components, an area that has seen demand recovery strongly this year. Its other major market - aerospace and defence - has proved more challenging, but the company said after-market sales improved at the end of the quarter.
When: 25/06/10
Price: 198p
Performance: -52%
