Melrose Industries PLC provided earning guidance for the year 2022. The Group remains on track to meet its full year expectations, with good first half momentum. GKN Automotive and GKN Powder Metallurgy expect supply chain pressures to begin to ease towards the end of the year, while for GKN Aerospace, the aviation sector recovery is accelerating.

This will be augmented by an expected full recovery of inflation, notably in Automotive, with customer negotiations going to plan, which will remain a focus into the new year with cost pressures expected to continue. This strong inflation recovery performance, together with further operational efficiencies and the benefit of ongoing group-wide cost savings, mean the company expects full year 2022 to show good progress on 2021, and both DemergerCo and Melrose to be well positioned for further success following the intended Demerger.