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Overview

Bodycote revenues grew 18.8% to £345.7m in the first half (2016: £291.0m) corresponding to a growth of 8.3% at constant exchange rates. The five sites acquired in 2016 provided 3.5% of the constant currency growth such that organic constant currency growth was 4.8%. The contribution of recent greenfield investments made up 2.0% of the growth at constant exchange rates. The remaining 2.8% of the constant currency growth stems primarily from the macro-economic tailwind the Group has seen since the second half of 2016.

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Financial highlights

Half year to
30 June 2017
Revenue £345.7m
Headline operating profit £61.7m
Headline operating cash flow £59.9m
Basic headline earnings per share 23.6p
Interim dividend per share 5.3p

Business ReviewAerospace, Defence & Energy (ADE)

Revenues for the ADE business were £136.1m in the six months to June 2017 compared with £121.9m in 2016, an increase of 11.6%.

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Business ReviewAutomotive & General Industrial (AGI)

Revenues for the AGI business were £209.6m in the first half of 2017, compared with £169.1m in 2016, an increase of 24.0%.

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Summary and outlook

Bodycote achieved strong revenue growth in the first half, with good momentum in virtually all parts of the Group.

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