Industrial Engineering (2750)

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Bodycote on track to meet margin target as aerospace boosts profit

By Frank Prenesti

Date: Friday 15 Mar 2024

LONDON (ShareCast) - (Sharecast News) - Heat treatment and thermal processing services specialist Bodycote delivered a rise in annual profits, driven by a strong performance at its aerospace and defence division.
The company on Thursday posted an operating profit of £127m, up 14%, with revenues increasing 8% to £802m and said it was on track to deliver medium-term margin growth of more than 20%.

On a pre-tax basis, profits were up to £111.7m from £95.3m.

"Despite macroeconomic uncertainty we expect to deliver further progress in 2024. We anticipate a reduction in the level of energy surcharges, reflecting further normalisation of energy prices," the company said on Friday.

Reporting by Frank Prenesti for Sharecast.com

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Price Data

Price 13,534.47
Closing Price Change 31.29
% Change 0.23 %
03-May-24 Close 13,534.47

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