FTSE 250 shares round-up: Bodycote outshines Aston Martin
The two stocks sit at opposite ends of the mid-cap performance table today, with the heat treatment firm putting its more glamorous rival to shame.
30th July 2025 15:26
by Graeme Evans from interactive investor
The post-tariffs rebound of Bodycote (LSE:BOY) shares today contrasted with the plight of Aston Martin Lagonda Global Holdings Ordinary Shares (LSE:AML) after the pair featured at opposite ends of the FTSE 250 index.
The heat treatment and thermal processing firm, which has been stock market listed since 1972, is up by about 40% since April after today’s in-line half-year results and £30 million buyback plan boosted confidence.
- Invest with ii: Top UK Shares | Share Tips & Ideas | Cashback Offers
The luxury car maker, meanwhile, continues to struggle after it softened earnings guidance and flagged ongoing uncertainty caused by the recent UK-US trade agreement.
The deal reached at the end of June allows for up to 100,000 UK vehicles to be imported into the US at a 10% tariff in a calendar year, with volumes above that subject to a 27.5% tariff.
The quota is currently based on a “first come first served” basis, with 25,000 UK made vehicles able to qualify for the lower tariff rate each quarter from the first quarter of next year.
Aston Martin said the system added a further degree of complexity and limited its ability to accurately forecast for this financial year and quarterly from 2026 onwards.
It argues that the arrangement is skewed in favour of larger players such as Jaguar Land Rover and risks squeezing out smaller car makers.
- FTSE 100 shares round-up: Taylor Wimpey, Glencore, Sage
- 10 hottest ISA shares, funds and trusts: week ended 25 July 2025
- Stockwatch: is this a sure-fire UK recession indicator?
Chief executive Adrian Hallmark added: “We continue to actively engage the UK government to urge them to improve the quota mechanism to ensure fair access for the whole UK car industry to the 10% rate on an ongoing basis.”
He said the “evolving and disruptive” tariff situation had been unhelpful to operations in the second quarter after the company adjusted production and limited imports through April and May while awaiting confirmation of a trade agreement.
Adjusted earnings for the year are now likely to “improve towards breakeven” rather than reach positive territory as previously hoped. The second figure fell 33% to a loss of £57 million, while net debt rose 15% to £1.4 billion.
Aston Martin said the new guidance took into account foreign exchange rate movements, increased investment in software and action to support its dealers in China so they can reduce stock levels prior to future market improvements.
The group continues to expect a significantly stronger second half, boosted by its transformation programme and initial deliveries of the hybrid electric Valhalla supercar in the fourth quarter.
Despite the optimism, shares fell 7p to return where they were in early May at 71.7p. They had been near 60p at the height of tariffs turmoil in April before rallying as far as 88p in mid-June.
Today’s price is close to the 70p a share at which executive chair Lawrence Stroll’s Yew Tree Consortium acquired shares as part of a £125 million fundraising at the end of March.
Having pumped in £600 million since 2020, the support took the stake of Stroll and partners to 33% as they continue to provide the additional headroom needed for future investment.
- Taking advantage of 25% discount in Hong Kong markets
- Why the negative reaction to HSBC's first-half results?
- Sign up to our free newsletter for investment ideas, latest news and award-winning analysis
Bodycote shares, meanwhile, are back where they started the year after today’s bounce of 67p to 639.5p. They were £10 in 2018 when investors bought into its higher margin growth story, only to fall below 500p in the face of economic headwinds in autumn 2022 and tariffs in April.
It said today that market conditions remain challenging, but that momentum improved through the first half with sequential growth seen in almost all end markets versus a soft performance in the second half of 2024.
Adjusted operating profit of £55.1 million fell 17% on a year earlier due to lower revenue, mix and a foreign exchange impact, with guidance for the full year unchanged.
Chief executive Jim Fairbairn said: “Demand is strong in industrial gas turbines, as well as in Aerospace and Defence where supply chain conditions are improving. Automotive and Industrial markets remain weak but saw modest improvement versus a soft second half of 2024.”
These articles are provided for information purposes only. Occasionally, an opinion about whether to buy or sell a specific investment may be provided by third parties. The content is not intended to be a personal recommendation to buy or sell any financial instrument or product, or to adopt any investment strategy as it is not provided based on an assessment of your investing knowledge and experience, your financial situation or your investment objectives. The value of your investments, and the income derived from them, may go down as well as up. You may not get back all the money that you invest. The investments referred to in this article may not be suitable for all investors, and if in doubt, an investor should seek advice from a qualified investment adviser.
Full performance can be found on the company or index summary page on the interactive investor website. Simply click on the company's or index name highlighted in the article.