March 6, 2013 / 7:21 AM / 4 years ago

Melrose full-year profit rises

March 6 (Reuters) - Engineering turnaround specialist Melrose Plc reported a 38 percent increase in full-year profit but said its order book in its energy business continued to be weak.

Pretax profit rose to 214.3 million pounds ($324 million) in 2012 from 154.7 million pounds a year earlier. Revenue increased 43 percent to 1.55 billion pounds.

Analysts on average had expected a pretax profit of 202.1 million pounds and revenue of 1.53 billion pounds according to Thomson Reuters I/B/E/S.

Melrose follows a private equity-type model of investing in companies, aiming to improve their performance and selling them.

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