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Melrose squeezed by pandemic on multiple fronts

The turnaround specialist expects only a “small” adjusting operating profit for the first half of the year following a collapse in sales
Melrose squeezed by pandemic on multiple fronts

Unfortunately for engineering conglomerate Melrose (MRO), it is exposed to some of the sectors most battered by the Covid-19 pandemic – automotive, aerospace and industrials. The six months to 30 June saw the group’s revenue plunge by 27 per cent, with a steep decline in the second quarter thanks to the shuttering of its factories and a drop off in demand.

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