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 [...]