LONDON (dpa-AFX) - Melrose Industries Plc (MRO.L), a British manufacturing firm, on Thursday reported a decreased pre-tax loss for 2022, amidst a rise in revenue. The company also remains optimistic about its performance in the coming years.
For the 12-month period to December 31, 2022, the London-based company reported a pre-tax loss of 307 million pounds, compared with 660 million pounds loss recorded for 2021.
Excluding items, income before tax was at 384 million pounds, higher than 194 million pounds of last year.
Net loss was at 303 million pounds 7.3 pence per share as against last year's profit of 837 million pounds or 17.7 pence per share.
Operating loss stood at 236 million pounds, versus 493 million pounds loss a year ago.
Revenue improved to 7.537 billion pounds from previous year's 6.650 billion pounds.
A second interim dividend of 1.5 pence per share will be paid on April 18. The total full year dividend for 2022 is 2.325 pence per share, a 33 percent increase over last year.
Looking ahead, for full year, the company said: '.The recovery in the aerospace sector is well underway. GKN Aerospace's improved performance is expected to be significantly stronger than we anticipated for 2023 and beyond. Supported by pent up demand in civil aviation and increases in defence budgets, double digit revenue growth is expected again this year. The coming years are expected to deliver significant profit and cash generation from its range of best in class Engines platforms.'
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