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.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
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
-
Are the wealthy dodging more tax than previously thought?A new report suggests tax non-compliance among the wealthy could be worse than previously imagined. Is an overly complex system partly to blame?
-
Six out of 10 retirees who accessed a pension didn’t use Pension Wise - how does the guidance service work?Many pension savers don’t bother using the free government-backed service Pension Wise. So, how does it work, and could it be useful for you?
