Automotive specialist Bodycote reports revenues growth of 18.8% to £345.7 million in the first half of 2017, up from £291.0 million in 2016, corresponding to a growth of 8.3% at constant exchange rates.
The group’s headline operating profit grew 25.2% to £61.7 million (2016: £49.3 million). Overall civil aerospace revenues were up 4.4%, led by strong growth in the UK, while defence (predominantly a North American market for the group) was down on the same period last year. Revenues from the energy sector were 4.1% lower, with the oil and gas sector continuing to register a decline compared with the first half of 2016, when oil and gas revenues were still falling. Bodycote achieved revenue growth of 15.5% in the car and light truck sector as new programs, especially using specialist technologies, continue to build. Group revenues in the general industrial sector increased 11.8% in the first half, with growth across all of the group’s key territories.
This story is reprinted from material from Bodycote, with editorial changes made by Materials Today. The views expressed in this article do not necessarily represent those of Elsevier.