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Melrose (LSE:MRO) Sets Ambitious 2029 Targets, Aiming for GBP 5Bn Revenue and GBP 1.2Bn Profit

Tue 18 Mar 25, 01:18 PM | Team Kalkine

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Highlights

Melrose Industries PLC (LSE:MRO), a UK-based aerospace company, has proposed a final dividend of GBX 4.0 per share for the financial year 2024 (FY24), reflecting a 14% YoY increase. This brings the total dividend for 2024 to 6.0p, marking a 20% rise from FY23. Melrose specialises in producing advanced components and systems for top OEMs in both the civil and defense sectors.

In FY24, Melrose reported a revenue of GBP 3,468 million, representing a 3.5% increase compared to FY23. This growth was largely driven by a 26% increase in Engines revenue, which was further supported by parts repair, the defense aftermarket, and the RRSP portfolio. Despite industry-wide supply constraints and customer destocking, structures revenue grew by 3%. However, foreign exchange fluctuations impacted revenue, reducing it by GBP 66 million when compared to the anticipated USD 1.25 exchange rate in 2024.

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