Why Melrose Is Up 23% This Yearhttp://www.fool.com/investing/international/2012/10/19/why-melrose-is-up-23-this-year.aspx Jon Wallis
October 19, 2012
LONDON -- Melrose (LSE: MRO.L ) has advanced 23% to 244 pence so far during 2012, making the share one of this year's best performers in the FTSE 100.
The company -- which buys underachieving manufacturing businesses, improves their fortunes, and then sells them on -- seems to have impressed investors with a series of very positive statements.
During March, Melrose published its annual results for the year to Dec. 31, 2011. Revenues were up 11% for the full year, including a 14% rise in the second half. Pre-tax profits gained an impressive 32%, at 161 million pounds, while the order intake advanced 22% to stand at 1,217 million pounds. Earnings per share were up 20%, at 28.8 pence, with an 18% increase to the full-year dividend.
During May, an interim management statement revealed revenues for the year to date were up