LONDON (dpa-AFX) - Melrose Industries plc (MRO.L) on Thursday reported that its profit before tax for the year ended 31 December 2019 was 106 million pounds, compared to loss before tax of 542 million pounds in the prior year. Earnings per share were 0.9 pence, compared to loss per share of 11.8 pence a year ago.
Adjusted profit before tax rose to 889 million pounds from 672 million pounds a year ago. Adjusted earnings per share were 14.3 pence, compared to 12.7 pence last year.
Revenue for the year rose to 10.97 billion pounds from 8.15 billion pounds last year. Adjusted revenue grew to 11.59 billion pounds from 8.65 billion pounds in the prior year.
The company noted that its results for 2019 were comfortably ahead of the Board's expectations for both profit and cash generation.
Melrose Industries said its board proposes to pay a final dividend of 3.4 pence per share, making a total dividend for the year of 5.1 pence per share, an increase of 11% from 4.6 pence per share last year.
The final dividend will be paid on 20 May 2020 to those shareholders on the register at 3 April 2020, subject to approval at the Annual General Meeting on 7 May 2020.
Looking ahead, Melrose said that the effects of the COVID-19 outbreak are not fully known at present. However, whilst there will clearly be some impact, the company noted that the opportunities to improve GKN in 2020 and beyond position it well to deliver positive returns for shareholders in the future.
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