Melrose records 'pleasing' start to year
Engineering buy-out firm Melrose said revenues were up nine per cent in the first four months of the year.
Engineering buy-out firm Melrose said revenues were up nine per cent in the first four months of the year.
It added that the total value of orders received in the period was 3% higher than revenue and trading was in line with forecasts.
"Whilst the first quarter is historically the slowest quarter of the year, the start to 2012 has been pleasing," the company said.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE

Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Revenue in its energy division was up 10% on the same period last year but the firm warned margins were being squeezed and were lower than the previous year.
Melrose's lifting arm had a strong start to the year with revenue up 11% on 2011 and the total value of orders received in the period 8% higher than revenue.
The company said that as of its Annual General Meeting on Wednesday, Chief Operating Officer Simon Peckham would become Chief Executive, replacing David Roper who would become its executive vice chairman.
It added that it was in the market for another purchase but had nothing in its sights and would "remain patient and disciplined in our approach to finding the right acquisition".
Get the latest financial news, insights and expert analysis from our award-winning MoneyWeek team, to help you understand what really matters when it comes to your finances.
MoneyWeek is written by a team of experienced and award-winning journalists, plus expert columnists. As well as daily digital news and features, MoneyWeek also publishes a weekly magazine, covering investing and personal finance. From share tips, pensions, gold to practical investment tips - we provide a round-up to help you make money and keep it.
-
Will “Liberation Day” strike again?
Donald Trump’s 90-day tariff pause comes to an end on 9 July. Can we expect further market turmoil?
-
Israel claims victory in the '12-day war' with Iran
Donald Trump may have announced a ceasefire in the 12-day war between Israel and Iran, but what comes next depends on what happens internally in Iran