Melrose trading ahead of expectations

13th May 2010 07:35

Engineering conglomerate Melrose said current trading is running ahead of management expectations for 2010 and it is confident in the outcome of the full year.The group said the positive trends in its businesses since March have continued with recent orders at Brush Turbogenerators underpinning confidence in the sales outturn for the year."Sales growth in our early cycle businesses has been offset by weaker sales in our later cycle businesses for the year to date, but these businesses are now seeing increased orders which will translate into sales in due course," the group said. Looking ahead the group noted that external economic and financial factors are far from settled. "Notwithstanding this, two months on from our Annual Results announcement in March we continue to be optimistic regarding the trading conditions in our businesses, thereby giving confidence in the outcome for the year," the group said.