Engineering group Bodycote yesterday reported a 2.9 per cent rise in group revenue for the four months between 1 July to 31 October, despite stagnation in European growth.
Revenue from oil and gas was up 13.6 per cent, as demand from the North American onshore sector continued to improve, and revenue for subsea applications grew steadily.
Automotive and its general industrial business saw revenue increase 3.2 per cent, with North American sales rising 8.5 per cent and western European sales growing just 0.9 per cent.
“In light of weak economic conditions, especially in the Eurozone, the board… expects that general background demand will be more difficult in 2015 than in 2014. However, the strength of the group’s specialist technologies is expected to counter the effects of the soft macro-economic environment,” said Bodycote.