Trading Statement

RNS Number : 3736G

Melrose Industries PLC

20 November 2015

 



20 November 2015

 

MELROSE INDUSTRIES PLC

TRADING STATEMENT

Trading for the Elster Group has been strong in the ten months to October 2015 with sales up 14% versus last year at constant currency, 6% if excluding the acquisition of Eclipse in November last year. The sale of Elster to Honeywell announced on 28 July this year is on course to complete in the first quarter of 2016.

 

As previously announced Brush has been experiencing challenging end market conditions with the first half sales being down 26% at constant currency compared to last year. As expected, the performance has improved in the four months since the half year so that revenue for the ten months to October is down 17%. Trading is in line with expectations for the full year albeit potentially towards the lower end of the range.

 

Recent results from industrial companies globally have been somewhat downbeat and it may be that this trend continues for some time. In these uncertain circumstances, Melrose is optimistic that a suitable acquisition will be identified bringing with it another opportunity to create substantial value for shareholders.

 

 

 

 

 

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Enquiries:

Montfort Communications

Charlotte McMullen:                                                                             [phone]

 

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