Melrose sees energy boost

BRITISH manufacturing buyout group Melrose posted full-year profit at the top end of expectations and said strong energy and mining markets meant it was set for further growth.

“The strong end-markets we have are proving their worth,” finance director Geoffrey Martin said

”We are 50 per cent into energy, oil and gas, and mining, which are good places to be in right now.”

Melrose’s 2011 pre-tax profit rose 32 per cent to £161m, compared with a forecast for £157m. Sales, 11 per cent higher at £1.15bn, were in line.