Melrose Industries PLC Record investment in aerospace technology and eDrive development

Melrose Industries PLC (LON:MRO) today announced its interim results for the six months ended 30 June 2019. Highlights   Adjusted1 results Statutory results Continuing operations 2019 2018 2019 2018 £m £m £m £m Revenue 6,002 2,971 5,700  2,847  Operating profit/(loss) 539 284 -11 -325 Profit/(loss) before tax 429 244 -128 -372 Profit/(loss) after tax 330 188 -150 -330       …

Melrose Industries

Melrose Industries PLC Trading in line with expectations

Melrose Industries PLC (LON:MRO) published the following trading update for the four months from 1 January 2019 to 30 April 2019, ahead of its Annual General Meeting taking place later today. Current trading in Melrose is in line with the Board’s expectations. Consistent with the recent commentary given at the year-end results announcement in March and the Capital Markets Event …

Melrose Industries

Melrose Industries PLC A transformational year

Melrose Industries PLC (LON:MRO) today announced its audited results for the year ended 31 December 2018. This includes 8 months of contribution from GKN since acquisition. An additional measure to guide ongoing performance, the 2018 unaudited, annualised adjusted1 numbers, is also shown below. Highlights § The results for 2018 are ahead of the Board’s previous expectations § This outperformance has been …

Melrose Industries

Melrose Industries Plc Sundry Disposals

Melrose Industries Plc (LON:MRO) announced today that it has agreed to sell Walterscheid Powertrain Group, (previously known as GKN Off Highway Powertrain), a leading provider of original equipment and aftermarket parts and services for off-highway powertrain applications to One Equity Partners a US-based private equity firm. In addition, Melrose announces that its subsidiary, Fokker Aerospace B.V, has completed the sale …

Melrose Industries PLC trading in line with expectations

Melrose Industries PLC (LON:MRO) published the following trading update for the four months from 1 July 2018 to 31 October 2018. All numbers are calculated at constant currency.

Melrose is trading in line with the Board’s expectations for 2018.

In the Period, Melrose has seen strong revenue growth in Aerospace and Powder Metallurgy with flat revenue in Automotive. Melrose is confident the GKN businesses offer an outstanding opportunity for value creation over the medium term.

Divisional highlights

Aerospace

Aerospace is performing well, revenue was up over 6% on last year in the Period and good progress has been made on margin including improvement in the performance of North America. With an experienced and incentivised management team, the Aerospace business is making the improvements necessary to achieve the acquisition objectives.

Powder Metallurgy

This business has achieved revenue growth in the Period of 9% c

Melrose Industries appointment of Liam Butterworth as CEO

Melrose Industries (LON:MRO) today confirms the appointment of Liam Butterworth as CEO of its Automotive Division, which comprises the GKN Driveline and GKN ePowertrain businesses, commencing in early November.

Liam comes with a wealth of automotive experience, beginning with an early career at Lucas Industries and TRW prior to joining FCI Group’s Motorised Vehicles Division in 2000. He held a number of management positions before being appointed as Motorised Vehicles Division President and General Manager in 2009. Liam went with the business when it was acquired by Delphi Automotive plc in 2012, becoming President of Delphi’s powertrain business in 2014 and then Chief Executive Officer and President of Delphi Technologies plc as part of last year’s spin off.

Melrose Chief Executive Simon Peckham said: “We are pleased to have secured Liam to lead our Automotive Division. His substantial leadership experience in the sector will be of gre

Melrose Industries Plc appoint Charlotte Twyning as an independent non-executive Director

Melrose Industries Plc (LON:MRO) today announced the appointment of Charlotte Twyning to its Board as an independent non-executive Director with effect from Monday 1 October 2018.

After a legal career, Charlotte moved on to senior roles in policy, customer service and strategy at BT and Abellio and she is currently Consents Director on the Heathrow Expansion Programme Board.

She brings to the Melrose board a broad frame of reference, acute commercial judgement and excellent experience of working at the highest levels with government and regulators.

Christopher Miller, Executive Chairman of Melrose Industries, said,

“We are delighted to welcome Charlotte to the Board and we look forward to benefiting from her diverse range of experience. We believe that she will make a significant contribution to Melrose as we work to deliver for all our stakeholders.”

Melrose Industries PLC trading in line with the Board’s expectations

Melrose Industries PLC (LON:MRO) today announced its interim results for the six months ended 30 June 2018. Highlights Proforma results assume that GKN plc (“GKN”) was owned for the full six month period, adjusted results and statutory results only include GKN for the 73 day period from 19 April 2018 when it was acquired by Melrose. Proforma1 results Adjusted2 results …