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Melrose Posts Narrower Loss In H1 - Quick Facts

Melrose Industries plc (MRO.L) said the Group is trading in line with expectations for 2019, with the three main divisions of GKN on track to achieve previously announced targets. The Group said its first-half results show the initial fruits of the 'improve' stage of Melrose's ownership of GKN.

For the six months ended 30 June 2019, the Group posted a loss before tax of 128 million pounds compared to a loss of 372 million pounds, prior year. Loss per share was 3.1 pence compared to a loss of 10.6 pence. Adjusted profit before tax increased to 429 million million pounds from 244 million pounds, a year ago. Adjusted earnings per share was 6.7 pence compared to 6.0 pence.

First-half revenue improved to 5.70 billion pounds from 2.85 billion pounds, last year. Adjusted revenue was 6.00 billion pounds compared to 2.97 billion pounds.

The Board declared an interim dividend of 1.7 pence per share, a 10 percent increase on last year. It will be paid on 11 October 2019 to shareholders on the register at the close of business on 13 September 2019.

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