Image source: Getty Images
Melrose Industries (LSE:MRO) may not command the same headlines as Rolls-Royce, but the FTSE 100 engineering group is quietly delivering a transformation story that’s hard to ignore. Its latest full-year results for 2024, coupled with forecasts and its own targets, suggest this could be a company to watch.
Earnings set to surge
For the year ended 31 December 2024, Melrose reported revenue of £3.5m, up from £3.4m million in 2023, representing 11% like-for-like sales growth. Meanwhile, operating profit surged to £540m, a 42% increase from 2023. Adjusted diluted earnings per share (EPS) jumped to 26.4p, a 45% rise from 18.7p in 2023.
The numbers look even more compelling when set against consensus forecasts. Analysts expect EPS to reach 34p by 2026, which would mark a further 29% increase from 2024’s already-strong result.
Such growth is underpinned by Melrose’s…
