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Annual Results

Melrose's FY results beat views, seeking acquisition

02 March 2017 09:28

Melrose Industries has reported FY results that beat market expectations, and its already looking for another acquisition.

It swung to a FY pretax loss of £69.3m, from a loss of £30.7m. Revenue was significantly higher.

"This has been a tremendous year for Melrose and we are delighted with the performance of Nortek which is exceeding expectations," said chairman Christopher Miller in a statement.

"All aspects of the business are being improved and its prospects are better than originally thought. As a result we have started looking for the next acquisition that will materially enhance shareholder value."

At 9:28am: (LON:MRO) Melrose PLC share price was +26.63p at 245.13p

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