|Bid||420.40 x 0|
|Ask||525.00 x 0|
|Day's range||515.60 - 527.00|
|52-week range||198.98 - 527.00|
|Beta (5Y monthly)||1.66|
|PE ratio (TTM)||N/A|
|Earnings date||06 Sept 2023 - 11 Sept 2023|
|Forward dividend & yield||0.07 (1.42%)|
|Ex-dividend date||09 Mar 2023|
|1y target est||575.42|
The company raised its adjusted operating margin outlook for aerospace to between 17% and 18% by 2025, compared with 14% previously. The operating margin for the Engines business is expected to be 28% in 2025, compared with 22% in 2023. "Lifetime net cash inflows, from RRSP engines contracts, being approximately half the Engines business today, are expected to total 20 billion pounds ($25.24 billion) with a net present value of 5.5 billion pounds," Melrose said ahead of its capital markets event in London.
(Reuters) -Britain's top equity index slipped on Wednesday as strength in sterling weighed on dollar earners such as Unilever ahead of the Bank of England's policy decision on Thursday, when it is seen raising interest rates further. The blue-chip FTSE 100 closed down 0.3%, with global companies such as Unilever, AstraZeneca and Diageo, that draw a large part of their revenue overseas, falling about 1% each. Further denting the mood, ASOS, one of the pioneers of online fashion retailing, slumped 23.3% as it swung to a first-half loss, hit by a squeeze on household budgets and forecast a further drop in sales.
The company also said it expects annual revenue between 3.35 billion pounds ($4.23 billion) and 3.45 billion pounds, while analysts are expecting a revenue of 3.4 billion pounds, according to company-compiled estimates. Melrose also said it will not seek acquisitions of "an unrelated industrial business or, in the near term, a material aerospace business," as it shifts its strategy to focus on aerospace. In April, Melrose listed shares in the former automotive division of British engineer GKN on the London Stock Exchange.
In 2018 the deal was treated with much scepticism, but Melrose can hardly be accused of slash-and-burn tactics
Melrose Industries listed shares in the former automotive division of British engineer GKN on the London Stock Exchange Thursday, giving a boost to Britain's top bourse after it recently lost some high-profile listings to New York. Shares in the newly created Dowlais opened at 146 pence and were trading at close to 110 pence prior to publication, implying a market capitalisation of around 1.5 billion pounds ($1.87 billion). Dowlais, which encompasses GKN's Automotive, Powder Metallurgy and Hydrogen businesses, was spun off to existing Melrose shareholders.
Key Insights The projected fair value for Melrose Industries is UK£2.48 based on 2 Stage Free Cash Flow to Equity...
The company, which announced in September its plans to spin off the GKN automotive division, smaller powder metallurgy and hydrogen businesses from its aerospace arm, would be demerged into a new independent holding company called Dowlais Group, it added. Melrose, which will retain ownership of GKN Aerospace, also planned to seek a London listing of the demerged company. The company, which specialises in acquiring and turning around underperforming businesses before selling them, bought British engineer GKN in 2018 for $11 billion after a three-month battle to gain control of the firm.
The latest investor updates on stocks that are trending on Thursday.
We feel now is a pretty good time to analyse Melrose Industries PLC's ( LON:MRO ) business as it appears the company...
(Reuters) -UK's FTSE 100 reversed early losses on Thursday as a weak pound boosted the export-heavy index, while declines in stocks trading ex-dividend and weak earnings from the likes of Haleon and Beazley kept gains in check. The blue-chip FTSE 100 closed 0.4% higher, rising for the second session. Sterling fell against the dollar on expectations of a more hawkish Federal Reserve following hotter-than-expected U.S. labour market data and Bank of England Governor Andrew Bailey on Wednesday indicating a possible end to its rate hiking cycle.
British engineer Melrose Industries on Thursday forecast a better-than-expected performance at its aerospace business in 2023 on pent-up demand in civil aviation and increasing defence budgets, sending shares up as much as 5%. Melrose is shifting focus to aerospace, serving companies such as Airbus and Rolls-Royce, as it plans to spin off its GKN automotive arm and a smaller powder metallurgy division this year. The group, which supplies airframe structures and engine components to the aerospace sector, said it expected double-digit growth in revenue for the aerospace unit this year.
Melrose Industries PLC ( LON:MRO ), is not the largest company out there, but it saw a decent share price growth in the...
Melrose Chief Executive Simon Peckham dismissed allegations made by holders of GKN's euro medium-term notes (EMTNs) programme. The company issued the bonds in 2017 to raise 2 billion pounds ($2.5 billion), with 130 million pounds still outstanding, Peckham said. In a letter to GKN dated Jan. 16 the group, which hold over 72% of the bonds, said the engineer had conducted a tender offer of the notes at a "substantial discount to par" without informing it of an "event of default" following a proposal to separate GKN Automotive and GKN Metallurgy.
The blue-chip index edged higher as 'investors appear to have fallen back in love with UK assets'.
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