Commenting, Stephen Harris, Group Chief Executive, said:
" We have delivered a strong performance in the first half, which was modestly ahead of our expectations and with broad-based growth across most of our end markets. In particular, we achieved good progress in our strategic focus areas of Specialist Technologies, Emerging Markets, Civil Aerospace and electric vehicles. We continue to manage inflationary cost pressures well through energy surcharges and price increases. The Group remains on track to achieve a margin in excess of 20% over the medium term.
Cash conversion improved and net debt reduced in the period. The strength of our balance sheet continues to provide options to drive shareholder value, in line with our disciplined capital allocation framework.
The strong first half performance underpins our confidence in delivering progress for the full year.
Looking beyond 2023, the Board remains confident in the Group's prospects for continued profitable growth. " |
Fantastic half year results.
Half Half year
year to to
30 June 30 June
2023 2022
Operating profit GBP58.7m GBP45.0m
------------------------------------ --------- ----------
Profit after tax GBP42.9m GBP32.5m
------------------------------------ --------- ----------
Net cash from operating activities GBP92.5m GBP61.0m
------------------------------------ --------- ----------
Basic earnings per share 22.2p 16.9p |
Nice and quite, good sign |
Buys showing as sells on ADVFN. They must have stock to sell. |
Bodycote Plc posted FY22 results titled “Strong growth; good prospects” this morning. Revenue increased by 20.8% to £743.6m, headline operating profit was up 18% to £112.2m, basic headline EPS was up 19% to 42.7p. The balance sheet strengthened with closing net debt down to £33.4m. Valuation is average for the sector with forward PE ratio of 13.6x and PS ratio near 1.7x. Share price is enjoying a 5 month rally off multi year lows. The business has recovered to pre-COVID levels, share price still has a fair way to go. BOY is a solid business, with solid b/s, decent profitability, ok valuation and some share price momentum. The dividend yield at 3.8% is even top quartile for the Machinery, Equipment & Components sector. BUY...
...from WealthOracle |
IMO a solid set of results and inline with forecasts or a bit ahead in certain areas.
Bodes well for 2023 and beyond. I like they have offset inflation by price increases as they have market leadership. |
I thought results were today. |
Looks like this is breaking out |
Bodycote Plc issued a trading update for the 4 months ended 31 October 2022 this morning. Total Group revenue for the period grew by 29% on last year to £258m. The revenue figure benefits from price increases and energy surcharges of approximately 15% in total which have successfully covered all of the Group’s cost inflation in the period. So the business is growing back towards pre-COVID levels of activity and margins are being successfully defended. Management expect the Group to deliver FY22 results in-line with market expectations and the balance sheet remains solid with net debt at £59m. Valuation is average with forward PE ratio around 13.2x, PS close to 1.7x. Share price looks to be putting in a floor through H2, the macro environment is the main risk. BOY looks to be a solid Mid-cap Industrials name where business is recovering and at a decent price. But it is still a share to monitor for now...
...from WealthOracle
hxxps://wealthoracle.co.uk/detailed-result-full/BOY/623 |
Would help if they stated market expectations |
Decent update. Cost increases passed on nicely |
Well the tripple bottom seems to have gone - so for me it's about timing - I am about one third cash (wish it was 50%!) so I need to sort my target list currently:
BOY
SGRO
DGE
UPS
DIS
CP.
RMD
SHED
BBOX
PLTR |
Toffee, think that would be a longer term steal unless the world as we
know it is ending. |
will BOY reaching 400 coincide with a VIX above 40? |
Toffee, BOY are very heavy energy users as you may be aware.
It's a quality business, astute CEO but also highly cyclical. |
About 400 give or take the panic on the day |
Toffee, interesting - can you confirm the 2020 share price low, thanks. |
Tripple bottom?
I am using BOY as one of my stock indicators to try and understand the recession. I am looking for a drop below the 2020 low as a key point. |
Had a small amount, however would expect the next update to be significantly less sanguine. |
Had a very small amount,
may add on a bad day |
Toffee, MRO heavily lower today will not have helped here. |
I think Poland and Romania are pretty Putin proof |
Need to look at where in Eastern Europe they have relocated significant
amounts of manufacturing to.
Don't want to find it's a country next on Putin's wish list. |
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