Confirms FY guidance (Il Sole 24 Ore Radiocor) - London, 02 May - The UK aerospace group Melrose Industries said that in the first quarter of 2024 revenue was up 8% year over year with the Engines division up 21% and the Structures business flat.

"Ongoing restructuring projects and business improvement actions are progressing well. As a result, adjusted operating profit is up substantially on the prior year, in line with our expectations and recently upgraded guidance. Our end markets continue to be positive with strong demand and increasing backlogs in both civil and defence, and favourable Engines aftermarket dynamics," it added.

Melrose said that its full-year guidance is unchanged, with an expected 33% year-on-year increase in adjusted operating profit to 560 million pounds at the midpoint, modestly second half weighted.

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(RADIOCOR) 02-05-24 12:06:26 (0297) 5 NNNN