Half Year 2024 Melrose Industries PLC Earnings Call Transcript
Hello, everyone. Welcome to the Melrose results for the first half of 2024. It's great to see so many of you here with us in London, particularly on what I know is a very busy day for results in our sector. I know we've also got lots of other people joining on the webcast so good morning, good afternoon wherever you are in the world and thanks for joining us.
Now these are actually our second set of results as an Aerospace focused Melrose, and it's been certainly a busy period. We've delivered a strong first half performance which we'll go through in a few moments but in addition to that today we're announcing a new growth strategy and an associated capital allocation framework for the future.
So, look, let's get straight into the highlights. As I've said, it was a strong first half performance and indeed ahead of expectations with a north of 60% improvement in operating profit and margin expansion of 450 basis points versus the prior year. So clearly a strong performance and it's been powered by the Engines outperformance in
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