Melrose Industries Plc reports 20% decline in group sales for four months to 30 April 2020

Melrose Industries Plc (LON: MRO) has released a trading statement for the four months from 1 January 2020 to 30 April 2020.

  • The company has reported that due to COVID-19, the Group sales in the reported period were down by around 20 per cent versus the same period last year.
  • The company stated that in the second quarter, capex and trade working capital actions alone are projected to deliver around £200 million of cash savings.
  • It has further stated that as conditions remain too unpredictable to forecast, it is not in a position to give any trading guidance for the year.
  • On 7th May 2020, at the time of writing, GMT 08:36 AM, MRO shares were trading at GBX 100.20, up by 2.00 points or 2.04% against the previous day closing price.

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