3 September 2020 - 110p
The engineering group Melrose has announced its interim results to 30 June and these are in line with the last trading update of 22 July. Clearly the company has suffered from the coronavirus pandemic and adjusted revenue for the period fell to £4.36bn (2019: £5.87bn) with an adjusted loss before tax of £40m (2019: adjusted profit £431m). These results are much as expected although it is pleasing to see that trading over the summer months has been at the higher end of expectations, notably at Nortek and in the automotive business. Net debt was . . .
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