February 20, 2018 / 7:25 AM / 3 months ago

BRIEF-Melrose Industries reports full-year profit of 257.7 mln stg​

Feb 20 (Reuters) - Melrose Industries Plc:

* FY ‍PROFIT/(LOSS) BEFORE TAX 257.7 MILLION STG​

* ‍91% INCREASE IN FULL YEAR DIVIDEND OF 4.2 PENCE PER SHARE​

* ‍REVENUE FY 2,092.2 MILLION STG ​

* MELROSE INDUSTRIES - ‍”CONVINCED GKN WOULD GAIN SIGNIFICANTLY FROM BECOMING PART OF ENLARGED £10 BILLION UK INDUSTRIAL POWERHOUSE, BENEFITTING FROM PROVEN MELROSE OPERATING MODEL”​

* ‍AT PRESENT MAJORITY OF OUR BUSINESSES ARE BASED IN US, WHERE MARKETS ARE CURRENTLY SOUND​

* “‍BELIEVES THAT GKN IS A COMPANY IN NEED OF FUNDAMENTAL CHANGE TO REVERSE ITS LONG-TERM UNDERPERFORMANCE”​

* ‍FURTHER IMPROVEMENT IN OUR BUSINESSES BUILDING ON THEIR SECOND HALF SALES PERFORMANCE, AS WELL AS EXCITING ACQUISITION OPPORTUNITIES, GIVES US CONFIDENCE FOR 2018 AND FUTURE YEARS.​

* “‍BELIEVE GKN WILL RESPOND TO MELROSE’S METHODS AND DELIVER LASTING RESULTS FOR ALL STAKEHOLDERS”​ Source text for Eikon: Further company coverage: (Reporting By London Bureau)

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