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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