At constant exchange rates, Bodycote's aerospace and defence revenue was lower by 0.7%.
At constant exchange rates, Bodycote's aerospace and defence revenue was lower by 0.7%.

This performance was in line with the Bodycote board’s expectations as stated in the 2013 annual results' announcement on 27 February 2014, the company says.

Its aerospace, defence & energy business reported constant currency revenue higher by 1.4% compared to the first quarter of 2013. At constant exchange rates, aerospace and defence revenue was lower by 0.7%. Civil aviation demand was unchanged year on year but defence revenue fell by 2.3%, reflecting the continued reduction in military budgets. 

The automotive & general industrial business saw revenue increase by 3.9%, at constant exchange rates. In Western Europe, sales at constant exchange rates were ahead by 5.6% while North American revenues declined 1.2% at constant exchange rates. Car & light truck revenues have grown well in all territories, but heavy truck demand continues to be weak. General industrial demand has improved but with stronger growth in Western Europe than in North America. 
 
Bodycote says that its expectation of further progress in 2014 on a constant currency basis is unchanged from the time of the 2013 annual results' announcement in February.