Melrose trading ahead of expectations

12th May 2011 08:54

Engineering conglomerate Melrose said current trading is running marginally ahead of management expectations and it expects to make further progress in 2011, buoyed by strong order intake.Sales at the group, which specialises in buying up underperforming businesses and selling them after restructuring, were up 8% so far this year at constant exchange rates, excluding the businesses sold in February. Brush Turbogenerators' order intake rose 15% from the same period last year while Bridon performed satisfactorily in the period. Sales continue to grow at Dynacast, up 8% year on year.Melrose, which recently offloaded Brush Traction, Madico and Logistex UK, said, " A sale process for Dynacast is underway and good progress is being made." CJ