logo
  

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."

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
Priceline, affiliated to Booking Holdings Inc., is launching Fourth of July Freedom sale with bigger savings on flights, hotels and rental cars for the upcoming summer travel season. The company, which offers exclusive discounts on hotels, flights, alternative accommodations, rental cars, cruises and packages, said the two-week Freedom Sale will feature special discounts and promotions. Cuisine Solutions is recalling its JUST Egg flavored plant-based "bites" products due to undeclared allergens, the U.S. Food and Drug Administration said. The recall involves a limited number of 2-pouch retail packages that may contain an incorrect sealed pouch containing whole-egg and milk products, known allergens. Hedge-fund billionaire William Ackman's Pershing Square Tontine Holdings Ltd. (PSTH) agreed to acquire 10% of Universal Music Group from French media conglomerate Vivendi (VIV.L, VIVEF.PK) for about $4 billion, the companies said in a statement on Sunday.
RELATED NEWS
Follow RTT