Improved profit and divi at Bodycote

Heat treatment firm Bodycote posted an 8.7% rise in half year pre-tax profit and said its expects growth in aerospace, energy and new technologies to counteract negative economic headwinds.

Profit before taxation rose to £43.8m for the six months ended 30 June 2012 from £40.3m before. Revenue rose to £301.3m during the period from £288.2m previously.

Operating profit increased to £45.6m from £42.7m while net debt fell to £16.7m from £33.7m.

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Chief executive Stephen Harris commented: "The group delivered a strong first half performance despite currency headwind and weakened demand in the Eurozone economies."

Looking forward into the second half, growth in aerospace and energy together with new technologies, is expected to counteract the effect of slowing economies, he added.

Bodycote has offered an interim dividend per share of 4p, up from 3.6p earlier.

CJ