Bodycote upbeat after strong year

ENGINEERING group Bodycote has reported strong annual results, as it doubled a special dividend to investors to 20p per share.

The Macclesfield-based group, which employs more than 5,700 staff in 26 countries, reported a 5.4% rise in full-year pretax profit.

Bodycote, which heat-treats jet engine turbine blades and other aircraft and car parts, saw 2014 profits rise from £98.4m to £103.7m.

Revenue fell 1.7% to £609.1m in the year ended December 31. At constant exchange rates revenue rose 4%, the company added.

Chief executive, Stephen Harris,  said: “The group delivered another good performance in 2014. Revenue, at constant exchange rates, was ahead 4% and we achieved further improvement in margin and return on capital employed, in addition to strong cash generation.

“As we begin 2015 a number of macro-economic uncertainties persist. Nevertheless, at this early stage in the year, the board believes that the strength of the group’s specialist technologies and management’s continued focus on business improvement, particularly in the classical heat treatment business, should enable further progress in 2015.”