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Melrose Industries PLC (MRON.L)

MRON.L on London Stock Exchange

208.50GBp
13 Sep 2019
Change (% chg)

3.50 (+1.71%)
Prev Close
205.00
Open
204.20
Day's High
208.70
Day's Low
203.90
Volume
8,715,565
Avg. Vol
11,621,909
52-wk High
226.40
52-wk Low
145.94

Latest Key Developments (Source: Significant Developments)

Melrose Says HY Adj Oper Profit Rises To 539 Mln Pounds
Thursday, 5 Sep 2019 

Sept 5 (Reuters) - Melrose Industries Plc ::HY ADJUSTED OPERATING PROFIT 539 MILLION POUNDS VERSUS 501 MILLION POUNDS AS REPORTED PROFORMA A YEAR AGO.HY REVENUE 6 BILLION POUNDS VERSUS 6.20 BILLION POUNDS AS REPORTED PROFORMA A YEAR AGO.TRADING IN LINE WITH EXPECTATIONS FOR 2019.NET DEBT LEVERAGE AT 2.3X EBITDA IS BETTER THAN EXPECTATIONS AT HY END.INTERIM DIVIDEND OF 1.7 PENCE PER SHARE (2018: 1.55 PENCE) IS DECLARED.HY ADJUSTED PROFIT BEFORE TAX OF £429 MILLION (2018: £244 MILLION).GLOBAL AUTOMOTIVE SECTOR DOWNTURN IS AFFECTING GKN AUTOMOTIVE AND GKN POWDER METALLURGY BUSINESSES.SECURITY & SMART TECHNOLOGY BUSINESS CONTINUES TO FACE MATERIAL AND PERSISTENT MARKET HEADWINDS AND TARIFF PRESSURE.REMAIN CONFIDENT GROUP WILL TRADE IN LINE WITH CO'S EXPECTATIONS FOR THIS YEAR.POSITIVE ABOUT PROSPECTS FOR REST OF 2019 AND BEYOND .SOME MACRO CHALLENGES PRESENTED BY TARIFFS AND AUTOMOTIVE SECTOR DOWNTURN.POSITIVE ABOUT PROSPECTS FOR REST OF 2019 AND BEYOND."MADE A STRONG START" IN ADDRESSING £600 MILLION OF LOSS-MAKING CONTRACTS OF GKN BUSINESSES IDENTIFIED ON ACQUISITION.CURRENTLY EXPECT SECOND HALF TRADING TO BE SIMILAR TO FIRST HALF OF 2019 IN AUTO.COMMENCED THOROUGH WORKING CAPITAL REVIEW ACROSS GKN BUSINESSES, TO UNLOCK £400 MILLION OF ADDITIONAL FUTURE CASH WITHIN OWNERSHIP PERIOD.GKN AUTOMOTIVE DEALING WITH GLOBAL MARKET DOWNTURN, WHICH CO EXPECT TO CONTINUE INTO SECOND HALF.AT AEROSPACE SPECIAL TECHNOLOGIES BUSINESS ANNOUNCED ITS INTENTION TO CLOSE ITS KINGS NORTON SITE.  Full Article

Melrose Aims To Double Shareholders Equity In 3 To 5 Years
Wednesday, 3 Apr 2019 

April 3 (Reuters) - Melrose Industries PLC ::MELROSE- AIM TO DOUBLE SHAREHOLDERS EQUITY IN 3 TO 5 YEARS- PRESENTATION.MELROSE- CONFIDENT OF DELIVERING SIGNIFICANTLY IMPROVED MARGIN PERFORMANCE. MARGIN IMPROVEMENT ONLY REQUIRES LIMITED SALES GROWTH- PRESENTATION.MELROSE- "GKN AEROSPACE AND AUTOMOTIVE ARE ATTRACTIVE, WELL POSITIONED BUSINESSES" - PRESENTATION.  Full Article

Melrose Sets Medium Term Operating Margin Targets For Aerospace, Automotive Divisions
Wednesday, 3 Apr 2019 

April 3 (Reuters) - Melrose Industries PLC ::MELROSE INDUSTRIES PLC - MEDIUM TERM OPERATING MARGIN TARGETS FOR AEROSPACE AND AUTOMOTIVE DIVISIONS OF 12% AND 10% RESPECTIVELY.  Full Article

Wabco Appoints New Chief Financial Officer
Tuesday, 2 Apr 2019 

April 2 (Reuters) - Wabco Holdings Inc ::WABCO APPOINTS NEW CHIEF FINANCIAL OFFICER.SAYS SEAN DEASON APPOINTED CFO.DEASON REPLACES ROBERTO FIORONI.WABCO HOLDINGS - FIORONI TENDERED HIS RESIGNATION AFTER ACCEPTING A ROLE OUTSIDE WABCO WITH GKN AUTOMOTIVE.  Full Article

Melrose To Sell Walterscheid Powertrain Group For 200 Mln Stg
Wednesday, 6 Mar 2019 

March 6 (Reuters) - Melrose Industries PLC ::SUNDRY DISPOSALS.HAS AGREED TO SELL WALTERSCHEID POWERTRAIN GROUP.COMBINED NET PROCEEDS OF SALES ARE APPROXIMATELY £200 MILLION.SALE OF WALTERSCHEID IS SUBJECT TO CUSTOMARY REGULATORY CONDITIONS AND IS EXPECTED TO COMPLETE IN FIRST HALF OF THIS YEAR.UNIT, FOKKER AEROSPACE B.V, COMPLETED SALE OF ITS MINORITY 43.57% INTEREST IN SOCIÉTÉ ANONYME BELGE DE CONSTRUCTIONS AÉRONAUTIQUES.  Full Article

Melrose Industries Says Trading in Line With 2018 Expectations
Tuesday, 13 Nov 2018 

Nov 13 (Reuters) - Melrose Industries PLC ::MELROSE INDUSTRIES - TRADING STATEMENT.MELROSE INDUSTRIES PLC - MELROSE IS TRADING IN LINE WITH BOARD'S EXPECTATIONS FOR 2018..MELROSE INDUSTRIES PLC - MELROSE IS TRADING IN LINE WITH BOARD'S EXPECTATIONS FOR 2018..MELROSE INDUSTRIES PLC - CONFIDENT GKN BUSINESSES OFFER AN OUTSTANDING OPPORTUNITY FOR VALUE CREATION OVER MEDIUM TERM..MELROSE INDUSTRIES PLC - NET DEBT AND CASH GENERATION ARE IN LINE WITH BOARD'S EXPECTATIONS..  Full Article

Melrose In Talks About Offloading 500 Million Pounds GKN Pension Scheme - Sky News
Friday, 31 Aug 2018 

Aug 31 (Reuters) - :MELROSE IN TALKS ABOUT OFFLOADING 500 MILLION POUNDS GKN PENSION SCHEME - SKY NEWS.MELROSE IS TALKING TO INSURERS INCLUDING AVIVA AND SCOTTISH WIDOWS ABOUT TAKING ON ONE OF GKN'S PENSION SCHEMES - SKY NEWS.  Full Article

Melrose says that U.S. authority CFIUS clears its takeover of GKN
Monday, 25 Jun 2018 

June 25 (Reuters) - Melrose Industries PLC ::MELROSE ANNOUNCES THAT CLEARANCE FROM COMMITTEE ON FOREIGN INVESTMENT IN UNITED STATES ("CFIUS") IN RESPECT OF ITS OFFER FOR GKN HAS BEEN OBTAINED.CFIUS HAS CONCLUDED ITS REVIEW AND HAS DETERMINED THAT, BASED ON ITS INVESTIGATION, THERE ARE NO UNRESOLVED NATIONAL SECURITY CONCERNS..  Full Article

GKN quarterly sales drop 0.5 pct to 2.6 bln stg-Melrose
Tuesday, 24 Apr 2018 

April 24 (Reuters) - Melrose Industries PLC ::GKN <<>> QUARTERLY SALES 2.599 BILLION STG VERSUS 2.611 BILLION STG YEAR AGO.TRADING UPDATE FOR GKN PRIOR TO MELROSE OWNERSHIP.GKN GROUP SALES IN PERIOD WERE £2,599 MILLION (2017: £2,611 MILLION).GROUP OPERATING PROFIT WAS £181.5 MILLION (2017: £215.1 MILLION).GROUP OPERATING PROFIT MARGIN WAS 7.0% (2017: 8.2%).GKN PLC PERFORMANCE IN PERIOD BEFORE MELROSE OWNERSHIP SHOWED TRENDS BELOW CURRENT MARKET EXPECTATIONS FOR GKN FOR PROFIT AND CASH GENERATION.WHILE THIS GIVES MELROSE A LOWER STARTING POINT FOR GKN THAN CURRENT MARKET CONSENSUS OPINION, MELROSE ALLOWED FOR FURTHER UNDERPERFORMANCE BY GKN PRIOR TO ITS OWNERSHIP.REMAINS CONFIDENT IT WILL BE ABLE TO DELIVER ON ALL STATEMENTS IT MADE DURING OFFER PERIOD OVER MEDIUM TERM.  Full Article

Melrose Says Offer For Gkn Unconditional In All Respects
Thursday, 19 Apr 2018 

April 19 (Reuters) - Melrose Industries Plc ::OFFER FOR GKN UNCONDITIONAL IN ALL RESPECTS.MELROSE'S OFFER FOR GKN HAS BECOME UNCONDITIONAL IN ALL RESPECTS.ALL MEMBERS OF BOARD OF GKN HAVE RESIGNED FROM BOARD OF GKN PLC AS OF APRIL 19.  Full Article

REFILE-UPDATE 2-Confident Melrose hikes dividend as profit rise lifts shares

Sept 5 Melrose Industries Plc flagged its confidence in meeting full-year forecasts on Thursday as the turnaround specialist reported a better-than-expected first-half profit, despite weakness in its automotive business.