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

Recommended

Broker safety – your questions answered
Investment strategy

Broker safety – your questions answered

Cris Sholto Heaton answers more of your questions about the safety of stockbroker accounts
25 Mar 2020
How demographics affects stock valuations
Investment strategy

How demographics affects stock valuations

New research suggests that stock and bond valuations are driven by the age of the population – at least in the US.
24 Feb 2020
Do you own shares in Sirius Minerals? Here’s what you need to do now
Stocks and shares

Do you own shares in Sirius Minerals? Here’s what you need to do now

Mining giant Anglo American has proposed a cash takeover of Yorkshire-based minnow Sirius Minerals. Unhappy shareholders must decide whether to accept…
20 Feb 2020

Most Popular

Why we won’t see a house-price crash in 2021
House prices

Why we won’t see a house-price crash in 2021

Lockdown sent house prices berserk as cooped up home-workers fled for bigger properties in the country. And while they won’t rise quite as much this y…
18 Jan 2021
Inflation is the easiest way out of this – just don’t expect politicians to admit it
Inflation

Inflation is the easiest way out of this – just don’t expect politicians to admit it

The UK government borrowed £34.1bn in December, a record amount for that month. Britain's debt pile now amounts to 100% of GDP. How are we going to pa…
22 Jan 2021
When will the US stockmarket bubble burst?
US stockmarkets

When will the US stockmarket bubble burst?

With US stocks more expensive than before the Wall Street crash of 1929, there are growing signs of “mania”. But what will push markets over the edge?
22 Jan 2021