Melrose Industries Posts Pretax Loss In H1 – Quick Facts

Melrose Industries plc (MRO.L) reported a statutory loss before tax of 303 million pounds for the six months ended 30 June 2018 compared to profit of 48 million pounds, previous year. The Group reported a loss per share of 8.9 pence compared to profit of 2.0 pence. Proforma result for the enlarged Group, which is presented on an adjusted basis as if GKN had been owned for the full six month period, was pretax profit of 401 million pounds, and earnings per share of 6.3 pence. Adjusted profit before tax increased to 240 million pounds from 131 million pounds, prior year. Adjusted diluted earnings per share was 5.8 pence compared to 4.9 pence.

First half statutory revenue for the Melrose Group was 2.94 billion pounds compared to 1.09 billion pounds, prior year. Proforma revenue for the enlarged Group presented on an adjusted basis as if GKN had been owned for the full six month period, was 6.20 billion pounds. The adjusted results in the period ended 30 June 2018 included revenue of 3.06 billion pounds compared to 1.09 billion pounds, previous year.

The Board has declared an interim dividend of 1.55 pence per share, which is an 11% increase on last year and will be paid on 12 October 2018 to shareholders on the register at the close of business on 14 September 2018.

Looking forward, Melrose Industries stated that it continues to trade in line with the Board’s expectations for 2018.

by RTTNews Staff Writer

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