Bodycote reported strong, broadly-based sales growth for H1 17, growth which accelerated within the period. Margin also advanced, leading to a 26% rise in adjusted PBT. Management expects this momentum to continue and increased guidance for the full year towards the top of the range. We have increased our low end PBT forecasts by 14% for 2017 and 15% for 2018 and also increased our target price from 690p to 995p. We believe prospects remain attractive for Bodycote. Industrial data series are sup ....
31 Jul 2017
N+1 Singer - Bodycote - Good momentum; PBT forecasts increased
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N+1 Singer - Bodycote - Good momentum; PBT forecasts increased
Bodycote plc (BOY:LON) | 687 -103.1 (-2.2%) | Mkt Cap: 1,306m
- Published:
31 Jul 2017 -
Author:
Jo Reedman -
Pages:
5
Bodycote reported strong, broadly-based sales growth for H1 17, growth which accelerated within the period. Margin also advanced, leading to a 26% rise in adjusted PBT. Management expects this momentum to continue and increased guidance for the full year towards the top of the range. We have increased our low end PBT forecasts by 14% for 2017 and 15% for 2018 and also increased our target price from 690p to 995p. We believe prospects remain attractive for Bodycote. Industrial data series are sup ....