Upbeat Melrose plans to pay out £200m in 2015 November 19, 2014 SHAREHOLDERS in investment vehicle Melrose Industries can expect a payout of around £200m early next year, after the company confirmed in a trading update yesterday that it would be making a return of capital in 2015. The business, which buys struggling manufacturing firms and improves them, said that trading during the past five months had [...]
Money for old rope as Melrose pulls in £365m October 13, 2014 MELROSE Industries is selling its rope-manufacturing arm Bridon to the Ontario Teachers’ Pension Plan (OTPP) for £365m. As part of the deal, British investment company Melrose will contribute £6.7m towards the Bridon Group (2013) pension scheme, which will remain with Bridon on disposal. Melrose said it intends to use the proceeds of the sale to [...]
Melrose Industries shares take a hit after limited strategy success March 5, 2014 Melrose Industries reported profit before tax of £226.1m in 2013 – up 48 per cent from a year earlier. Its strategy of “buy, improve, sell” has seen operating margins improve markedly, said the firm. Shares slid on the news, down over six per cent by mid-morning. Operating profit rose 20 per cent to £274.9m. Revenue [...]
Melrose and IMI return £1.2bn to shareholders after selling assets January 21, 2014 IT WAS a good day for investors in Melrose Industries and IMI yesterday, after both FTSE 100-quoted engineering firms said separately that they would be returning cash to shareholders. IMI – which makes valves and other equipment for controlling liquids and gas flows – is returning £620m to shareholders after it completed the sale of [...]