REG - Melrose Industries - Trading Statement

Melrose IndustriesAnnouncement

05/05/2022 07:00

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RNS Number : 3655K  Melrose Industries PLC  05 May 2022

 

 

 

 

 

5 May 2022

 

 

 

MELROSE INDUSTRIES PLC

 

AGM Trading Statement

 

Melrose Industries PLC ("Melrose" or the "Group") publishes the following
trading update for the four months from 1 January to 30 April 2022 (the
"Period") ahead of its Annual General Meeting taking place later today.

 

Group trading

 

Trading is in line with expectations for the year. Consistent with industry
trends, the Aerospace division is experiencing continued growth with with
like-for-like sales up 6% and the Automotive and Powder Metallurgy divisions
remaining constrained by supply, with combined like-for-like sales down 4%,
significantly below underlying consumer demand levels.

 

The Melrose Board is confident that the well advanced restructuring actions
ensure all its businesses are positioned to deliver their full potential as
supply constraints ease. In addition substantial progress has been made in
recovering inflation. Due to the time lag effect the financial performance
will be second half weighted, but Melrose is confident the impact
of inflation can be offset by the measures taken.

 

Investor Day

 

Melrose will be holding an Investor Day on GKN Aerospace on 8 June, starting
at 2.30pm, to explain in more detail the full potential for the business
including growth and improvement opportunities,
excellent long-term cash flow dynamics and new sustainable technology.

 

 

Simon Peckham, CEO of Melrose Industries PLC, said:

 

"Your Group continues to make good progress whilst dealing with the broader
world challenges. We are increasingly seeing growth return to our Aerospace
business, which is being rapidly well positioned for its future, and are
confident of demonstrating the full quality of our largely restructured
automotive businesses. We are well set to realise shareholder value as
conditions improve."

 

-ends-

 

Enquiries:

Montfort Communications:
Nick Miles

+44 (0) 20 3514 0897 / +44 (0) 7739 701 634

miles@montfort.london (mailto:miles@montfort.london)

 

Charlotte McMullen

+44 (0) 20 3514 0897 / +44 (0) 7921 881 800

mcmullen@montfort.london (mailto:mcmullen@montfort.london)

 

Melrose Investor Relations:
 Chris Dyett

+44 (0) 7974 974690

ir@melroseplc.net (mailto:ir@melroseplc.net)

 

 

Melrose Industries PLC Stratton House 5 Stratton Street London W1J
8LA Tel: 020 7647 4500 Fax: 020 7647 4501

 

Registered in England & Wales Registered no: 09800044 Registered
office: 11(th) floor The Colmore Building Colmore Circus
Queensway Birmingham West Midlands B4 6AT

 

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