Bodycote boosted by growth Aerospace and Energy business

Headline operating profit rose 14.4 per cent at Bodycote in the year ended December 31st, boosted by growth in its global Aerospace and Energy business.

Headline operating profit rose 14.4 per cent at Bodycote in the year ended December 31st, boosted by growth in its global Aerospace and Energy business.

In its audited results for the year, the company, which provides thermal processing services, reported that its headline operating profit rose to £97.9m from £85.5m a year earlier.

Revenue grew by 3.0% to £587.8m and the company reported continued strong cash generation, with headline operating cash conversion at 113%.

The dividend increased by 12.8% to 12.3p per share and the group reported that its North American network was enhanced by £85m of acquisitions.

Stephen Harris, Chief Executive Officer of Bodycote, commented: "2012 has been another year of good progress. Growth in our global Aerospace and Energy business outweighed the decline in Automotive and General Industrial markets in Europe.

"Improving business mix and the part-year benefit of acquisitions have enabled further improvements in performance and enhanced the group's geographic balance."

MF

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