Melrose’s latest deal is missing its magic touch, says Unmack1:
Melrose Industries on March 7 reported adjusted revenue of 9.1 billion pounds for 2018 and an adjusted operating profit of 784 million pounds, which exclude one-off costs and the amortisation of loss-making contracts. Those figures were 1 percent and 5 percent, respectively, ahead of forecasts by JPMorgan Cazenove analysts.
On a statutory basis, Melrose reported revenue of 8.6 billion pounds and a net loss of 550 million pounds. The UK engineering group, which bought rival GKN in April last year, reported sales growth of 2 percent in the aerospace division and 3 percent in the automotive unit, the two largest businesses that it acquired with GKN.
These two divisions reported adjusted operating margins of 8.2 percent and 6.7 percent respectively. In 2017 their respective operating margins were 6.2 percent and 7.2 percent, according to Melrose’s figures.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Russian oil output down in February, misses global deal targetRussian oil output stood at 11.34 million barrels per day (bpd) in February, dow...
Read more »
Magic Pochettino not giving up on silverwareTottenham Hotspur will find it tough to claim the game's major honours unde...
Read more »
I Tried 7 'Magic' Health Recipes To See If They Actually WorkFrom waffles made of protein powder to noodles with zero calories, here's what worked and what definitely didn't.
Read more »
Michigan police officer fired after making racially charged Snapchat video mocking 'black girl magic': 'Bye Felicia'The video showed Ariel Moore walking away after her car was seized. A caption read: “Celebrating Black History Month.”
Read more »
LeBron James and Magic Johnson aren't to blame for Lakers' disappointing seasonLuke Walton's tenure as head coach of the Los Angeles Lakers will be over if they miss the playoffs, but LeBron James and Magic Johnson deserve another chance.
Read more »
At least 23 dead after tornadoes touch down in Alabama and GeorgiaA devastating series of tornadoes that ripped through Alabama on Sunday have killed at least 22 people in one county
Read more »
At least a dozen tornadoes have touched down in Alabama and GeorgiaAt least a dozen tornadoes touched down in Alabama and Georgia on Sunday, the National Weather Service says
Read more »