LONDON (dpa-AFX) - Melrose Industries PLC (MRO.L) reported Monday that its revenues for the four months to October 31 grew 7 percent at constant currency, and that adjusted operating profit continues to grow on the prior year, in line with expectations.
Further, the full-year expectations remain unchanged with adjusted operating profit at 550 million pounds to 570 million pounds, with end market demand continuing to be positive.
In its trading update for the four months from July 1 to October 31, the company noted that Engines revenues climbed 17% at constant currency, showing strong progress driven by aftermarket revenues. Structures revenues grew 1%, despite OE volume reductions and previously announced customer destocking.
Looking ahead, the company said it expects to make strong trading progress in 2025, and are on track to deliver adjusted operating profit target of 700 million pounds, despite continued supply chain challenges. The performance is expected to be led by the strong aftermarket performance in Engines division offsetting OE volume constraints.
Peter Dilnot, Chief Executive Officer of Melrose said, 'As we move into 2025, we enter a period of significant and sustained growth in our cash flow for many years ahead. I am confident that Melrose's established capabilities, technology leadership, and unique position on the world's leading aircraft and engines will create substantial value in the future.'
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