Melrose Industries PLC

MRO: XLON (GBR)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
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Melrose Earnings: Underlying Execution Improves as Garden Grove Clouds Cash Recovery

Loredana Muharremi

Jul 31, 2026

Melrose’s first-half revenue rose 10% to GBP 1.87 billion and adjusted operating profit 16% to GBP 347 million. Excluding Garden Grove, profit grew 19% and margin rose 80 basis points. Guidance excluding the incident was maintained, while the GBP 175 million buyback was paused.

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Melrose Industries PLC

Melrose Earnings: Underlying Execution Improves as Garden Grove Clouds Cash Recovery

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