Bodycote plc, UK, reports that revenues in the six months to June 30 rose 5% from $464 million to $488 million. However, revenues would have fallen had it not been for the contribution of businesses it bought, which added 7% to sales. One such business was the mid-October deal for Carolina Commercial Heat Treating, bought for $64 million. Pre-tax profits grew 10.5%, and the interim dividend was increased by 10%.
“The group delivered a good first half result, with last year’s acquisitions performing well,” Chief executive Stephen Harris said. “Improvements in mix and rigorous cost control outweighed softness in demand, resulting in increased margins.”
