Statement re impact of US tax legislation

RNS Number : 9127A

Melrose Industries PLC

04 January 2018

 

 

 

 

 

04 January 2018

 

 

 

 

 

 

 

MELROSE INDUSTRIES PLC

STATEMENT RE IMPACT OF US TAX LEGISLATION

Melrose notes the enactment of the Tax Cuts and Jobs Act in the United States on 22 December 2017. Although the full implications of this new US tax legislation on the Group are still being reviewed, Melrose anticipates that there will be no effect on the financial year to 31 December 2017 (other than a non-cash, net tax credit due to the revaluation of deferred tax balances which will be excluded from underlying results). However the changes are expected to reduce the Melrose group effective tax rate for the financial year to 31 December 2018 to approximately 24% and also will significantly reduce the amount of US tax payable on any disposal from within the Nortek group.

 

 

 

 

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Enquiries:

Montfort Communications:

Nick Miles, Charlotte McMullen:                                                          [phone]

 

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