Business
Results for the six months to 30 June 2018
Results for the six months to 30 June 2018.
About this update from Bodycote Plc
[{"type":"text","content":"\n \nRNS Number : 7868V Bodycote PLC 26 July 2018 \n\n \n \nBodycote plc\nResults for the six months to 30 June 2018\n \n \n\n\n\nFinancial highlights\n \n\n\nHalf year to 30 June 2018\n \n\n\nHalf year to 30 June 2017\n \n\n\nGrowth\n\n\nGrowth constant currency\n \n\n\n\n\nRevenue\n\n\n£368.0m\n\n\n£345.7m\n\n\n6.4%\n\n\n8.7%\n\n\n\n\nHeadline operating profit1\n\n\n£70.1m\n\n\n£61.7m\n\n\n14%\n\n\n15%\n\n\n\n\nReturn on sales2\n\n\n19.0%\n\n\n17.8%\n\n\n\n\n\n\n\n\n\n\nHeadline profit before taxation1\n\n\n£69.1m\n\n\n£60.5m\n\n\n14%\n\n\n16%\n\n\n\n\nFree cash flow3 \n\n\n£39.4m\n\n\n£42.1m\n\n\n\n\n\n\n\n\n\n\nBasic headline earnings per share4\n\n\n27.3p\n\n\n23.6p\n\n\n16%\n \n%\n\n\n\n\n\n\n\nInterim dividend per share\n\n\n5.7p\n\n\n5.3p\n\n\n8%\n\n\n\n\n\n\n \nStatutory results\n\n\n\nOperating profit\n\n\n£68.2m\n\n\n£59.4m\n\n\n\n\nProfit before taxation\n\n\n£67.2m\n\n\n£58.2m\n\n\n\n\nBasic earnings per share\n\n\n26.6p\n\n\n22.9p\n\n\n\n \nHighlights\n· Revenue growth of 8.7%; headline operating profit growth of 15%5\n· Further improvement in return on sales to 19.0%\n· Free cash flow of £39.4m\n· Specialist Technologies' growth of 11%5\n· Emerging Markets' revenue growth of 22%5\n· Interim dividend of 5.7p, up 8%\nCommenting, Stephen Harris, Group Chief Executive said: \n\"Bodycote has enjoyed a strong first half of 2018. Robust growth has continued with double-digit revenue progression in Specialist Technologies, contract wins on automotive and aerospace programmes, and excellent growth across the Emerging Markets. We continue to invest in the ongoing growth of the business through capital expenditure and increased resources. \n1 Headline operating profit and headline profit before taxation exclude amortisation of acquired intangibles of £1.9m (H1 2017: £2.3m) and acquisition costs of £nil (H1 2017: £nil).\n2 Return on sales is defined as headline operating profit as a percentage of revenue.\n3 Free cash flow is defined as cash generated by operations of £82.6m (H1 2017: £87.3m) less net capital expenditure of £31.0m (H1 2017: £29.7m), net interest paid of £0.9m (H1 2017: £1.2m), and taxation of £11.3m (H1 2017: £14.3m).\n4 A detailed...