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Bodycote Group confident about full year after strong interims

Interim revenues rose by 6.4% to £368mln, underpinned by the core rust proofing and galvanising operations
Automotive demand is buoyant

Metals treatment specialist Bodycote PLC (LON:BOY) posted strong interim numbers as its car and specialist manufacturing arms motored ahead.

Interim revenues rose by 6.4% to £368mln, underpinned by the core rust proofing and galvanising operations, but would have been 8.7% better on an underlying basis without currency movements.

READ: Bodycote shares jump as it expects annual revenue and profit ahead of consensus

Heat treatment contributed 77% of sales and 60% of profits, with revenue 8% higher. 

Profits jumped 14% to £69.1mln, while the interim dividend rises by 8% to 5.7p.

Stephen Harris, chief executive, said the group was still seeing robust growth and expects full year result will be marginally ahead of the current consensus.

Shares rose 1% to 1,036p.

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