Bodycote Reports Strong First-Half Revenue Growth Amid Diverse Market Conditions
Bodycote (LON:BOY) reported a core organic revenue growth of 9.6% in the first half, driven by strong demand across aerospace and defense, industrial gas turbines, medical, and semiconductor-related markets. Despite continued weakness in automotive sectors, particularly in Western Europe and China, CEO Jim Fairbairn stated that the company remains on track for its full-year goals. Core operating profit rose 11% to £60.4 million with a core margin of 16.2%, up from previous periods. Group revenue increased by 6.5% organically to £381.2 million, and adjusted earnings per share climbed 18.3%. Aerospace and defense saw nearly 25% growth in group revenue, while the Specialist Technologies division reported a significant increase of 37%. The company has also expanded its aerospace commercial operations and secured long-term contracts with major U.S. customers. CFO Ben Fidler noted that energy sector performance was mixed but improving, particularly for IGT markets.
Tickers: $GE
Topics: aerospace automotive defense energy IGT (industrial gas turbines) medical