Melrose Industries : profit dives 90% as COVID-19 hits aerospace, automotive sectors

Turnaround specialist Melrose Industries Plc said on Thursday adjusted operating profit plunged 90% to 56 million pounds (55.88 million pounds) in the first half, hurt by a coronavirus-driven downturn in the aerospace and automotive sectors.

The company, which owns parts supplier GKN, reported adjusted revenues of 4.36 billion pounds, 25.8% lower than last year.

(Reporting by Yadarisa Shabong in Bengaluru; Editing by Devika Syamnath)