LONDON (dpa-AFX) - Melrose Industries Plc (MRO.L), is a British manufacturing company, said on Thursday that its trading is line with expectations for the year, amidst a continued growth in the Aerospace segment with a 6 percent rise in like-for-like sales.
The London-based Group also noted that the growth in automotive and powder metallurgy divisions has remained constrained by supply, with a 4 percent decline in combined like-for-like sales, which is drastically below the underlying consumer demand levels.
Commenting on the current supply hurdles, the Group expressed its confidence that the well advanced restructuring actions ensure all its businesses are positioned to deliver their full potential as supply constraints ease.
Simon Peckham, CEO of Melrose, said: 'Your Group continues to make good progress whilst dealing with the broader world challenges. We are increasingly seeing growth return to our Aerospace business, which is being rapidly well positioned for its future, and are confident of demonstrating the full quality of our largely restructured automotive businesses.'
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