Adjusted operating profit fell 17.5% year-over-year to £55.1 million
LONDON: Bodycote plc reported a 7.5% decline in group revenue to £369.0 million for the first half of 2025, citing weak conditions in automotive and industrial markets. Despite this, the company maintained its full-year outlook, highlighting progress in strategic initiatives and signs of sequential growth across most end markets.
Adjusted operating profit fell 17.5% year-over-year to £55.1 million, while statutory operating profit rose to £41.2 million, up from £30.8 million last year, reflecting reduced exceptional charges.
“We made significant progress on our Optimise, Perform & Grow strategy,” said CEO Jim Fairbairn. “While the macro environment remains uncertain, the second half will benefit from strategic gains, improved Aerospace performance, and better trading in Specialist Technologies.”
The company enhanced its Optimise programme, raising expected annual profit benefits to at least £15 million while cutting execution costs to £10–15 million. A £30 million share buyback was also announced, supported by a strong balance sheet.
Exceptional items totaled £9.1 million, primarily related to site closures and consolidations under the Optimise initiative. The prior-year figure included a £28.3 million ERP impairment.
Bodycote remains confident in meeting medium-term financial goals.