driving performance
realising value
Melrose seeks to acquire underperforming industrial businesses whose operational performance can be improved. Melrose invests in its businesses to fully exploit their operational and strategic strengths. Once a turnaround has been completed, it aims to sell these businesses and deliver value back to shareholders.
Annual Report 08Now available to:
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Interim Report 09Now available to:
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2009 Interim Results highlights1
• FKI acquisition performing well
• Headline1 profit before tax for the period was
£53.4 million (2008: £16.3 million). Profit before tax
was £38.8 million (2008: £15.2 million)
• Interim dividend increased by 5% to 2.9p per
share (2008: 2.75p)
• Strong cash generation reducing net debt to
£416 million (2.13 x Ebitda1)
• Net working capital reduced by £110 million (40%)
since FKI acquisition
• Sale of Logistex Europe for €30 million
• Sale of Logistex US for $40 million
(1) As defined in the 2009 interim statement which can be found
in the investors and media sections of the website
News
Melrose PLC Full Year Results 2009
Interim Management Statement
Melrose PLC Interim Results 2009
Completion of the sale of Crisplant
Sale of Crisplant
Trading Update
“The performance of the Group over the last six months has been very good given the difficult trading environment. The manner in which our businesses have reacted to reduce costs and generate cash whilst carefully positioning themselves to take advantage of opportunities as markets recover, has also been very pleasing. Allowing for the economic situation FKI has exceeded our expectations at acquisition. In addition, with FKI firmly under control, we recognise this is a ‘buyers’ market’ and we are now ready to seek out our next acquisition.”
28 August 2009
