Melrose confident about future prospects

Industrial turnaround specialist Melrose reported increased earnings for the half year and said while economic conditions are difficult to predict, it is confident it is in a good position to benefit from market opportunities.

Industrial turnaround specialist Melrose reported increased earnings for the half year and said while economic conditions are difficult to predict, it is confident it is in a good position to benefit from market opportunities.

Melrose, which buys underperforming manufacturing businesses, turns them around and then sells them, said headline profit before tax for the six-month period to 30 June 2012 rose to £81.9m, up 16 per cent from the same time last year. Revenue for the period was rose to £564.6m from £516.6m in 2011.

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