For a business in the thick of two of the most difficult global sectors — aircraft, both passenger and commercial, and cars — Melrose Industries seems to be holding its head pretty high (Miles Costello writes). The FTSE 100 conglomerate told shareholders in its most recent City update that it was trading at the top end of expectations.
Given the global pandemic, these are unlikely to be lofty, but in spite of the substantial statutory pre-tax loss that Melrose reported at the half-year stage in September, it reckons that it can break even over the year and analysts are hopeful that it will turn in a small profit. In the background, there is the prospect that it will sell Nortek Air Management, the American ventilation
