Melrose Industries: Trading Modestly Ahead Of Expectations

Melrose Industries (MRO.L) issued its trading update for the four months from 1 January to 30 April 2021. For the Melrose Group, sales was up 8% from last year. Excluding Nortek Air Management, sales grew by 4%. The Group said the operating margins achieved in the first quarter continued to improve faster than expected and cash generation for the Group is encouraging, with Melrose being cash neutral in the first quarter.

Simon Peckham, CEO of Melrose Industries PLC, said: "We are pleased with our start to the year and hopefully will see this momentum continue for the rest of the year. We are encouraged by the significant improvements made to the GKN businesses being reflected in their financial performance."

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