September 5, 2019 / 6:26 AM / a month ago

Melrose sees continued weakness in global automotive sector in H2

Sept 5 (Reuters) - Melrose Industries Plc on Thursday warned that weakness in the global automotive market would persist in the second half of the year, but the turnaround specialist said it was confident of trading in line with its expectations this year.

The UK-based company, which focuses on turning around industrial companies and then finding new owners for them, said operating profit rose to 539 million pounds ($661.73 million) in the six months ended June 30, when compared to last year’s pro-forma figure of 501 million pounds. ($1 = 0.8145 pounds) (Reporting by Justin George Varghese in Bengaluru)

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