Bodycote PLC 

Bodycote PLC (LSE: BOY) is an FTSE 250 listed Company, which is a provider of heat treatment and thermal processing services. The Company's segments include Aerospace, Defense & Energy (ADE), and Automotive & General Industrial (AGI) business areas, across Western Europe, North America, and Emerging Markets.

Interim Results (H1 FY23 Results, Released on 27 July 2023)

• Improved Revenue: The company reported an increase in revenue by 17.2% to GBP 420.1 mn in H1 FY23 against GBP 358.5 mn in H1 FY22, whereas on a constant currency basis, the growth was 13.8%. This was majorly driven by the increase in the revenue from oil and gas by 46%, followed by the specialist technologies segment approx. 13% in the reported period (H1 FY23) as compared to pcp.
• Liquidity: The net cash from operating activities increased to GBP 92.5 mn in H1 FY23 versus 61.0 mn whereas the free cash flows surged by 77% to GBP 56.2 mn in the reported period (H1 FY23) when compared against the free cash flow of GBP 31.8 mn in pcp.
• Dividend Declaration: The management announced an interim dividend of GBX 6.7 per share, (5.0% higher than the dividend in pcp), which will be paid on 06 October 2023.
• Debt Reduction: In H1 FY23 the group reported lower net debt of GBP 26.6 mn as compared to the net debt of GBP 57.5 mn in pcp.
• Outlook: The management is optimistic and planning to add further capacity across Eastern Europe and Turkey to take advantage of the momentum prevailing in that region. The group is striving hard to attain margins over and above 20% for the medium term.

Share Price Chart

Markets are trading in a highly volatile zone currently due to certain macroeconomic issues and geopolitical tensions prevailing. Therefore, it is prudent to follow a cautious approach while investing.

Bodycote PLC was trading at the closing market price of GBX 715.00 (as of 09 August 2023)

Note 1: Past performance is not a reliable indicator of future performance.

Note 2: The reference date for all price data, currency, technical indicators, support, and resistance level is 09 August 2023. The reference data in this report has been partly sourced from REFINITIV.

Note 3: ‘Kalkine reports are prepared based on the stock prices captured either from the London Stock Exchange (LSE) and or REFINITIV. Typically, both sources (LSE and or REFINITIV) may reflect stock prices with a delay which could be a lag of 15-20 minutes. There can be no assurance that future results or events will be consistent with the information provided in the report. The information is subject to change without any prior notice.

Note 4: Dividend Yield may vary as per the stock price movement.

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