MRO.L - Melrose Industries PLC

LSE - LSE Delayed price. Currency in GBp
237.50
-1.50 (-0.63%)
At close: 4:55PM GMT
Stock chart is not supported by your current browser
Previous close239.00
Open240.20
Bid222.00 x 0
Ask0.00 x 0
Day's range237.40 - 240.20
52-week range156.35 - 255.24
Volume6,530,704
Avg. volume10,394,940
Market cap11.538B
Beta (5Y monthly)2.14
PE ratio (TTM)N/A
EPS (TTM)-6.50
Earnings date05 Sep 2019
Forward dividend & yield0.05 (1.97%)
Ex-dividend date12 Sep 2019
1y target est248.00
  • No savings at 40? I’d buy this FTSE 100 share that’s turned £1k into £15k
    Fool.co.uk

    No savings at 40? I’d buy this FTSE 100 share that’s turned £1k into £15k

    This FTSE 100 stock could jump-start your savings and provide a handsome income in retirement, says Rupert Hargreaves. The post No savings at 40? I’d buy this FTSE 100 share that’s turned £1k into £15k appeared first on The Motley Fool UK.

  • Bloomberg

    Melrose Industries Explores Sale of Power Generation Unit Brush

    (Bloomberg) -- Melrose Industries Plc is exploring a sale of its Brush power generation equipment unit, people with knowledge of the matter said.Birmingham-based Melrose is working with an adviser to gauge buyer interest in the business, according to the people, who asked not to be identified because the information is private. A deal could value Brush at about 100 million pounds ($131 million), one of the people said.Melrose acquired Brush as part of its 2008 purchase of British engineering group FKI Plc. The company makes generators, motors and transformers used by power producers, industrial companies and oil explorers.Brush is now “smaller but profitable,” and its restructuring has been substantially completed to plan, Melrose said in a September investor presentation. Brush has struggled due to economic uncertainty in some of its main markets, and demand from the gas turbine industry continues to be far below its previous peak, Melrose said in its results announcement that month.This weakness has led Melrose to cut jobs at Brush in the past few years. A representative for Melrose declined to comment.Brush sits within Melrose’s “Other Industrial” division, which reported 335 million pounds of adjusted revenue in the first half of last year and 31 million pounds of adjusted operating profit.Melrose is also preparing to sell the bulk of its Nortek division, in what could become the British buyout specialist’s biggest divestment in more than four years, Bloomberg News reported this week.To contact the reporters on this story: Aaron Kirchfeld in London at akirchfeld@bloomberg.net;David Hellier in London at dhellier@bloomberg.netTo contact the editors responsible for this story: Ben Scent at bscent@bloomberg.net, Matthew MonksFor more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.

  • Bloomberg

    Melrose Mulls $3 Billion Sale of Nortek Air Businesses

    (Bloomberg) -- Want the lowdown on European markets? In your inbox before the open, every day. Sign up here.Melrose Industries Plc is preparing to sell the bulk of its Nortek division, in what could become the British buyout specialist’s biggest divestment in more than four years, people with knowledge of the matter said.Birmingham-based Melrose is working with advisers to weigh options for the division’s air businesses, which sell products including ventilation and cooling systems, according to the people. It is seeking to raise more than $3 billion from the sale, the people said, asking not to be identified because the information is private.Shares of Melrose were up 1.6% at the close Tuesday in London, giving the company a market value of 11.7 billion pounds ($15.3 billion). They earlier rose as much as 3.8%.Melrose bought Nortek Inc. in 2016 for $2.8 billion including debt. The original Nortek businesses’ adjusted operating profit has risen 40% under Melrose’s ownership, it said in a September investor presentation.Honeywell DealThe operations Melrose is planning to divest include the Global HVAC business, which makes large heating and air-conditioning systems installed during residential construction, as well as Air Quality & Home Solutions, which sells products like range hoods and bathroom ventilation fans, the people said. Both are housed in Melrose’s Nortek Air & Security division.It plans to hold onto its Security & Smart Technology business, which make residential security systems and smart-home products, according to the people. That part of the division has struggled due to the impact of tariffs and intense competition.A deal could rank as Melrose’s second-biggest disposal of all time, according to data compiled by Bloomberg. It would trail only the 3.3 billion-pound sale of Elster, a maker of gas and water meters, to Honeywell International Inc. in 2015, the data show.No final decisions have been made, and Melrose could decide to keep the assets for longer, the people said. A representative for Melrose declined to comment.GKN TurnaroundA divestment would allow Melrose to focus on turning around the operations of British aerospace and automotive firm GKN Plc, which counts Airbus SE as its biggest customer and was acquired in a controversial 2018 deal. Melrose, which listed on the U.K. stock market in 2003, buys industrial companies and improves the way they’re run before selling them.Melrose said around the time of its hostile bid for GKN that it could sell Nortek. It said in early 2018 that Nortek had been responsive to the “Melrose methods” and that it was shaping up to be Melrose’s “fastest ever improvement.” That led the company to say it could sell Nortek earlier than expected.Citigroup Inc. wrote in a research note Tuesday that a divestment would be a “significant positive” as it would allow Melrose management to further focus on the turnaround of the GKN assets. It would also allow the company to reduce its debt levels or return cash to shareholders through a special dividend, Citigroup analysts including Edward Maravanyika wrote.Melrose was exploring the sale of GKN’s powder metallurgy unit in 2018 before halting the process due to disappointing offers, according to people familiar with the matter. While buyout firms are still interested in the business, which makes automotive and industrial components from powdered metal, there are no current plans to relaunch the divestment in the near term, the people said.(Adds share movement in third paragraph)\--With assistance from Christopher Jasper and Joe Easton.To contact the reporters on this story: Aaron Kirchfeld in London at akirchfeld@bloomberg.net;Dinesh Nair in London at dnair5@bloomberg.net;Jan-Henrik Förster in Zurich at jforster20@bloomberg.net;David Hellier in London at dhellier@bloomberg.netTo contact the editors responsible for this story: Ben Scent at bscent@bloomberg.net, Matthew Monks, Christopher JasperFor more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.

  • ALERT! Here are the best performing UK stocks over the last decade
    Fool.co.uk

    ALERT! Here are the best performing UK stocks over the last decade

    Paul Summers takes a closer look at the shares you wish you'd bought back in 2010.The post ALERT! Here are the best performing UK stocks over the last decade appeared first on The Motley Fool UK.

  • 3 stocks I like that turned £1,000 into £10,000 in 10 years
    Fool.co.uk

    3 stocks I like that turned £1,000 into £10,000 in 10 years

    Did you spot these 10-baggers a decade ago? And what should we look for in the 2020s?

  • Airline stocks drop as problems mount for Boeing and oil rises
    Yahoo Finance UK

    Airline stocks drop as problems mount for Boeing and oil rises

    Stocks in airline and aerospace companies sold off on Wednesday amid a flurry of bad news for the sector.

  • Does Melrose Industries PLC (LON:MRO) Have A Place In Your Dividend Stock Portfolio?
    Simply Wall St.

    Does Melrose Industries PLC (LON:MRO) Have A Place In Your Dividend Stock Portfolio?

    Is Melrose Industries PLC (LON:MRO) a good dividend stock? How can we tell? Dividend paying companies with growing...

  • The best investment of the decade? A trainer shop
    Yahoo Finance UK

    The best investment of the decade? A trainer shop

    JD Sports was the best performing stock of the 2010s, despite the fact that retailers elsewhere struggled.

  • Boeing 737 Max suspension sends shockwaves through airline industry
    Yahoo Finance UK

    Boeing 737 Max suspension sends shockwaves through airline industry

    Shares in engineering firms and airlines dropped across Europe after Boeing said it was pausing production of the troubled 737 MAX.

  • Is Melrose Industries PLC (LON:MRO) Overpaying Its CEO?
    Simply Wall St.

    Is Melrose Industries PLC (LON:MRO) Overpaying Its CEO?

    Simon Peckham has been the CEO of Melrose Industries PLC (LON:MRO) since 2012. First, this article will compare CEO...

  • Reuters

    Confident Melrose hikes dividend as profit rise lifts shares

    Shares in Melrose, which focuses on turning around industrial companies and then finding new owners for them, were up by 7% after it also raised its interim dividend by 10%. Melrose, which clinched an 8 billion pound takeover of GKN last year, said it had benefited from a "significantly better" performance at its aerospace unit, which supplies parts for aircraft including the Eurofighter Typhoon. "The strong results and unchanged forecasts, despite ongoing Automotive weakness, underlines that these might be the same GKN assets but they are now managed by Melrose, a significant difference and one that we continue to expect will generate material upside for shareholders from here," JP Morgan added.

  • Reuters - UK Focus

    UPDATE 2-Confident Melrose hikes dividend as profit rise lifts shares

    Melrose Industries Plc flagged its confidence in meeting full-year forecasts on Friday as the turnaround specialist reported a better-than-expected first-half profit, despite weakness in its automotive business. Shares in Melrose, which focuses on turning around industrial companies and then finding new owners for them, were up by 7% after it also raised its interim dividend by 10%. Melrose, which clinched an 8 billion pound ($9.8 billion) takeover of GKN last year, said it had benefited from a "significantly better" performance at its aerospace unit, which supplies parts for aircraft including the Eurofighter Typhoon.

  • Melrose co-founder Roper signals exit in aftermath of GKN deal
    Sky News

    Melrose co-founder Roper signals exit in aftermath of GKN deal

    One of the founders of Melrose Industries will this week signal his intention to step down from the industrial turnaround group in the aftermath of the biggest takeover since it was set up 16 years ago. Sky News has learnt that Melrose, which paid more than £8bn to buy GKN, the FTSE-100 engineer, will announce that executive vice-chairman David Roper is to retire next year. The announcement of his intention to leave the company will make Mr Roper the first of Melrose's founding trio to depart, while underlining the continuity of its management team.

  • Melrose delivers riposte to MPs over Birmingham closure
    Sky News

    Melrose delivers riposte to MPs over Birmingham closure

    The industrial group which last year bought GKN, the venerable British engineer, ‎has dismissed MPs' complaints that its closure of a factory near Birmingham undermines commitments made during the hostile takeover. Sky News has obtained a letter from Simon Peckham, Melrose's chief executive, to Rachel Reeves, chair of the business, energy and industrial strategy select committee, which defends its commitment to the UK's industrial base. In it, Mr Peckham said Melrose had "complied with both the letter and the spirit" of undertakings given to the Government as part of its £8bn acquisition of GKN.

  • Melrose quartet see pay slashed after £8bn GKN takeover
    Sky News

    Melrose quartet see pay slashed after £8bn GKN takeover

    The executive quartet who run Melrose Industries saw their pay packages slashed last year in the wake of the company's takeover of GKN, one of the most venerable names in British manufacturing. Sky News has learnt that Melrose will disclose in its annual report on Friday that chief executive Simon Peckham saw his total remuneration for 2018 fall to £1.05m from more than £42m the year before. Melrose hopes the disclosures will underline a model for rewarding its top executives that it has been at pains to point out for many years results in lavish bonuses only when the company's shareholders do well.

By using Yahoo, you agree that we and our partners can use cookies for purposes such as customising content and advertising. See our Privacy Policy to learn more