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Bodycote Posts HY Profit

Bodycote plc. (BOY.L) reported that its profit attributable to equity holders of the parent for the six months to 30 June 2021 was 31.2 million pounds or 16.4 pence per share compared to a loss of 2.4 million pounds or 1.3 pence per share in the same period last year.

Headline earnings per share increased to 18.5 pence from 14.2 pence last year as a result of the improvement in headline operating profit.

Group revenue for the first half of 2021 was 312.9 million pounds, an increase of 2.0% at actual rates, 5.9% at constant currency.

The Board has decided that an interim dividend for 2021 of 6.2 pence will be paid on 5 November 2021 to all shareholders on the register at close of business on 8 October 2021.

The company expects growth to accelerate once short-term supply chain disruptions are eliminated in the Automotive and General Industrial markets and Civil Aerospace begins its upward climb, but none of these effects are expected to be material until 2022. However, the benefits of 2020 restructuring programme continue to build and Bodycote is well placed to capitalise on increases in revenues as they occur. The company now expect to deliver a result in the upper half of the range of expectations.

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