Melrose trading 'marginally' ahead of expectation

19th Nov 2009 08:10

Melrose said current trading is marginally ahead of management expectations for 2009 as the engineering conglomerate benefited from being exposed to different product sectors and geographical areas.The group said it has seen demand stabilising in its European and North American markets and picking up in Asian markets.'In addition to the recoveries in the early cycle businesses, we are seeing more stable markets leading to increased confidence,' said the group.'This, together with the early actions to reduce costs throughout the businesses, operational improvements and strong cash generation, gives us confidence that we will end the year on a positive note.'