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  "documentTitle": "Melrose | Mergers and Acquisitions Presentation Deck | 46 slides",
  "authorId": "melrose",
  "authorName": "Melrose Industries PLC",
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  "presentationDate": "2022-09-01 00:00:00",
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      "text": "First Half Trading Highlights for the Melrose Group\nMelrose is trading in line with expectations for the full year\nFirst half results are at the higher end of expectations, helping to de-risk the second half performance required to achieve full year expectations\nThe Group recorded an adjusted¹ earnings per share of 2.2 pence, 22% higher than the same period last year. The statutory loss per share in the Period was 6.3 pence per share (2021: 3.4 pence per share)\nGroup net debt¹ at 30 June 2022 was £1,294 million (31 December 2021: £950 million; equivalent to £1,017 million at like-for-like exchange rates)\nThe Group selectively increased its investment in working capital in the Period, to support expected growth and address constrained supply chains. In addition, prior to the Period end, the Group completed £119 million of the £500 million programme to buy back Melrose shares\nGroup leverage¹ at 30 June 2022 was 1.8x, or 1.6x if excluding the early buy back of shares before the Period end and prior to Ergotron proceeds being received in July\nAn interim dividend of 0.825 pence per share (2021: 0.75 pence per share) is declared, 10% up on the previous period\nThe disposal of Ergotron completed post the half year, on 6 July, for total proceeds of £519 million",
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      "text": "1. Described in the glossary to the 2022 Interim Financial Statements and considered by the Board to be a key measure of performance\n2. Results for the period ended 30 June 2021 have been restated for discontinued operations\n3. Comparatives for Balance Sheet measures are at 31 December 2021",
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      "text": "Continuing operations\nRevenue\nOperating profit/(loss)\nProfit/(loss) before tax\nDiluted earnings per share\nNet debt1, 3\nLeverage1, 3\nAdjusted¹ results\n2022 £m\n20212 £m\n3,878\n3,719\n171\n196\n128\n114\n2.2p\n1.8p\n1,294\n950\n1.8x\n1.3x\nStatutory results\n2022 £m\n20212 £m\n3,594\n3,431\n(317)\n(156)\n(358)\n(275)\n(6.3)p\n(3.4)p\nn/a\nn/a\nn/a\nn/a",
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      "text": "Interim results: Melrose Group highlights",
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