Bodycote FY2 Profit Climbs, Lifts Dividend; Sees Growth Ahead

Bodycote plc (BOY.L), a provider of heat treatment and thermal processing services, reported Friday that its fiscal 2022 profit before taxation increased to 95.3 million pounds from last year's 77.5 million pounds.

Basic earnings per share were 38.6 pence, up from 31.2 pence a year ago.

Headline profit before tax was 105.5 million pounds, compared to prior year's 88.5 million pounds. Basic headline earnings per share were 42.7 pence, compared to 35.8 pence last year.

Revenues went up 20.8 percent to 743.6 million pounds from last year's 615.8 million pounds last year. Revenues grew 17.3 percent at constant currency.

Further, the company said its Board has recommended a final ordinary dividend of 14.9 pence per share, up from last year's 13.8 pence. This brings the total ordinary dividend to 21.3 pence, higher than last year's 20.0 pence.

The final ordinary dividend will be paid on June 2 to shareholders on the register at the close of business on April 21.

Looking ahead, Stephen Harris, Group Chief Executive said, "While there are near term macroeconomic uncertainties, we expect underlying volume to continue to grow ahead of the background markets, and margins are expected to expand as surcharges moderate. Beyond 2023, we expect robust growth, leading to further margin expansion. .. The Board remains confident in the Group's prospects for continued profitable growth."

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