Business
Interim Results for the six months to 30 June 2024
Interim Results for the six months to 30 June 2024.
About this update from Bodycote Plc
[{"type":"text","content":"\n\n\n \nBodycote plc\nInterim Results for the six months to 30 June 2024\n\"Good performance in a mixed end market environment\"\n \n\n\n\n\nFinancial summary\n\n\nHalf year to\n\n\n \n\n\nHalf year to\n\n\n\n\n\nOrganic\n\n\n\n\n\nGrowth\n\n\n\n\n\n\n\n30 June 2024\n\n\n \n\n\n30 June 2023\n\n\n\n\n\nGrowth3\n\n\n\n\n\n\n\n\n\n\n\n\n\n \n\n\n \n\n\n \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\nRevenue\n\n\n£399.0m\n\n\n \n\n\n£420.1m\n\n\n\n\n\n-3.2%\n\n\n\n\n\n-5.0%\n\n\n\n\nRevenue excluding surcharges1\n\n\n£379.2m\n\n\n \n\n\n£380.7m\n\n\n\n\n\n+1.5%\n\n\n\n\n\n-0.4%\n\n\n\n\nHeadline operating profit1\n\n\n£66.8m\n\n\n \n\n\n£62.8m\n\n\n\n\n\n+7.0%\n\n\n\n\n\n+6.4%\n\n\n\n\nHeadline operating margin1\n\n\n16.7%\n\n\n \n\n\n15.0%\n\n\n\n\n\n\n\n\n\n\n\n+170 bps\n\n\n\n\nHeadline operating cash flow 1,4\n\n\n£49.2m\n\n\n \n\n\n£48.8m\n\n\n\n\n\n\n\n\n\n\n\n+0.8%\n\n\n\n\nFree cash flow1,4\n\n\n£26.0m\n\n\n \n\n\n£42.9m\n\n\n\n\n\n\n\n\n\n\n\n-39.4%\n\n\n\n\nBasic headline earnings per share1,2\n\n\n25.0p\n\n\n \n\n\n23.8p\n\n\n\n\n\n\n\n\n\n\n\n+5.0%\n\n\n\n\nInterim dividend per share\n\n\n6.9p\n\n\n \n\n\n6.7p\n\n\n\n\n\n\n\n\n\n\n\n+3.0%\n\n\n\n\n \n\n\n\n\nStatutory measures\n\n\nHalf year to\n\n\n \n\n\nHalf year to\n\n\n\n\n\n\n\n30 June 2024\n\n\n \n\n\n30 June 2023\n\n\n\n\n\n\n\n \n\n\n \n\n\n\n\n\n\n\nOperating profit\n\n\n£30.8m\n\n\n \n\n\n£58.7m\n\n\n\n\nOperating margin\n\n\n7.7%\n\n\n \n\n\n14.0%\n\n\n\n\nProfit after tax\n\n\n£19.7m\n\n\n \n\n\n£42.9m\n\n\n\n\nNet cash from operating activities\n\n\n£71.7m\n\n\n \n\n\n£92.5m\n\n\n\n\nBasic earnings per share\n\n\n10.2p\n\n\n \n\n\n22.2p\n\n\n\n\n\nHighlights\nFinancial Performance\n§ Organic revenue growth of 1.5% excluding surcharges\n§ Revenue down 5.0% to £399.0m, due to lower surcharges as well as foreign exchange headwinds\n§ Headline operating profit of £66.8m, 7.0% higher organically\n§ Further good improvement in headline operating margin to 16.7% (+170bps)\n§ Decision taken to reduce the scope of the ongoing ERP programme, saving future cash costs but resulting in a non-cash exceptional charge of £28.3m\n§ Statutory operating profit of £30.8m (H1 2023: £58.7m) after ERP impairment charge\n§ Headline operating cash flow broadly stable at ...