Highlights
Revenue up 5%; 3% in constant currencies
Headline operating profit up 11%
Headline margin up 90 basis points to 16.6%
Enhanced mix and strong cost control
Headline earnings per share up 9.3%
89% headline operating cash conversion
Net debt at £27.1m
Interim dividend of 4.4p, up 10%
Commenting, Stephen Harris, Group Chief Executive said:
"The Group delivered a good first half result, with last year's acquisitions performing well. Improvements in mix and rigorous cost control outweighed softness in demand, resulting in increased margins.
Looking forward, we expect a broadly similar outcome in the second half and therefore the Board continues to expect modest progress for the year as a whole.
The Board remains confident that Bodycote's strategy will continue to deliver good profits, cash and returns through the business cycle."
