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Tenobas 13 Mar 2019

Ryanair flights From mid April Ryanair flights start from Souhend.

beansfordinner 11 Mar 2019

Turnaround Sold my lot this today. Not sure if the right decision.

Gamesinvestor1 07 Mar 2019

Turnaround Looks like they have made a reasonable start. “”"""LONDON (Alliance News) - Industrial turnaround specialist Melrose Industries PLC on Thursday said its 2018 results have beaten its own expectations. Shares were 6.1% higher on Thursday in early trade at 191.05 pence each. FTSE 100 member Melrose posted revenue of GBP8.61 billion in 2018, well above the GBP2.09 billion reported in 2017, though its pretax loss widened to GBP550 million from GBP28 million year-on-year. This was mainly due to higher finance costs as well as restructuring, acquisition, and amortisation costs. Excluding its GKN acquisition, Melrose’s adjusted operating profit was GBP847 million, from GBP279 million in 2017. Melrose has reduced its net debt to earnings before interest, tax, depreciation, and amortisation ration to 2.3 times, ahead of guidance of 2.5 times. Melrose is paying a 3.05 pence final dividend, taking the 2018 total to 4.6p, compared to 4.2p returned in 2017. “This has been a transformational year for Melrose and we are delighted to announce, on an annualised adjusted basis, an operating profit of over GBP1 billion. The former GKN businesses are proving their potential to offer the outstanding opportunities we expected and much has already been achieved in the short period of ownership,” said Chair Justin Dowley. “Despite the current economically uncertain environment, we have every confidence we will be able to continue to unlock the substantial shareholder value from the former GKN businesses and further improve Nortek.” GKN is going well, Melrose said, while Nortek is also improving. GKN was bought in spring 2018 after a contracted battle, for GBP8.4 billion. GKN Aerospace made “substantial” progress in 2018 after a difficult 2017, Melrose said, while its outlook is good given a strong aerospace market. GKN Automotive is to focus on growing demand in Asia, while the Driveline business within the unit will continue to review costs. The outlook for Automotive is positive in 2019, Melrose added. In the GKN Powder Metallurgy arm, Melrose is continuing to focus on improving profitability, and Melrose is confident for a strong 2019 performance. “There were wider macro challenges for some of our businesses in 2018 and we see these continuing into this year,” said Dowley, commenting on Melrose’s outlook. “However, with culture change based on accountability, backed by significant investment and a more disciplined strategic focus being applied to improve all aspects of our businesses, we remain confident of further success as we enter 2019"”" Games

Tenobas 12 Oct 2018

Is Brexit holding MRO back? Automotive is one third of Melrose? and it looks as if Driveline is the biggest part of this. I think that Driveline sales to the US will be at most one eighth of turnover and since it is mainly in higher end cars will not be price sensitive. I think that the explanation for this fall is the threat to Driveline from electric drive systems.

TX2 08 Oct 2018

Is Brexit holding MRO back? It is more than just numbers;the US is the biggest export market for up market/top end & spec high margin cars BMW,Porsche,Ferrari etc plus of course UK built Astons,Jaguars,Land Rover,Rollers and has been important for over 50 years. Import duty on US cars sold in EU is vastly higher(10%) than EU built cars sold in USA(2.5%) so Trump has a strong case.Tesla and other US manufacturers bringing electric cars on the market could be helped by a duty rise on EU cars & also it would bring in a fair amount of revenue to US tax.Trump supporters buy US pick ups not Porsche so are perhaps not affected either!!! The EU would be wise to cut their duty on the much smaller sales of US cars in EU to same rate as that faced by EU exporters or better still cut to nil to defuse the situation…and gain some high ground as well as protecting their business.

Gamesinvestor1 08 Oct 2018

Is Brexit holding MRO back? Tenobas I don’t consider the US to be a small market for EU car exports, it’s the dominant one - it’s everything, that’s why Trump new exactly what he was doing when he was snubbed by the odious Mr Juncker. In fact it’s the other way around, the United States is the number one destination for EU-built cars, accounting for 29.3% of the total EU export value and 25% of US global car imports by value. Games

Tenobas 08 Oct 2018

Is Brexit holding MRO back? The US will only be a small part of EU car exports. US labour rates are too high for it to be able to take market share here. It looks as if there are advantages and disadvantages in trade wars for MRO in the many scenarios. This fall looks to be much bigger than tariff fallout.

Gamesinvestor1 01 Oct 2018

Is Brexit holding MRO back? Nothing to do with Brexit and everything to do with the fear that Mr Trump will slap tariff’s on EU car exports. Unless the EU plays ball and drops it’s own tariff’s on US car imports it’s likely to happen and it’ll be damaging for VW et al. Games

Barney_Scott 28 Sep 2018

Is Brexit holding MRO back? Something’s hitting it hard - down 10% in five and a half day’s trading. Can’t see any particular news for it.

Tenobas 28 Sep 2018

Is Brexit holding MRO back? And will almost any resolution increase the share price? How will axial flux motors play out and are they important. If axial flux motors do not succeed then what is the outlook for the drive line business? [link]

Gamesinvestor1 10 Sep 2018

Added on dip Incresed by another 50% Divi up 11% Figures as expected, but share price drops 3% + but recovering off the lows. Dividend on the 13th. Games

Gamesinvestor1 06 Sep 2018

GKN Status So far no skeletons according to Melrose [Melrose Industries said it has found “no black holes” in the GKN business and progress since its hostile takeover was completed has been in line with the board’s expectations. The FTSE 100 group reported a statutory loss before tax of £303m for the half year after booking significant acquisition related charges but only including 73 days of trading from GKN. Adjusted for these charges PBT was £240m and proforma PBT as if GKN had owned for the full six months to 30 June was £401m.]([link] Industries said it has found “no black holes” in the GKN business and progress since its hostile takeover was completed has been in line with the board’s expectations. The FTSE 100 group reported a statutory loss before tax of £303m for the half year after booking significant acquisition related charges but only including 73 days of trading from GKN. Adjusted for these charges PBT was £240m and proforma PBT as if GKN had owned for the full six months to 30 June was £401m.) Games – Stock up 4.22% as I type

Gamesinvestor1 26 Aug 2018

PRESS: Melrose To Start GKN Sell-Off With Powder Metallurgy Division Looks like this one is going earlier than anticipated. If they achieve £1.9bn that’s almost a quarter of what they spent buying the whole group. Powder, although the most profitable (I mean highest margin) is only about 11% of the overall business. I suspect Driveline and Aerospace could be more tricky to sell.

sound_money 02 Aug 2018

Bought In Bought in my SIPP at 2.11.

Gamesinvestor1 31 Jul 2018

Bought In Blue, maybe that’s a good thing that you did, because the share price is cheaper now if you wanted to buy in. Games

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