Melrose Industries PLC (LSE:MRO, OTC:MLSPF) is to update on Thursday, May 2 against a strong backdrop for both aviation and defence spending.
In line with rebounding demand for travel and growing focus on military spending, shares in the civil and defence aerospace components maker have climbed 13.5% so far this year.
Investors will be looking for Melrose to build on 2023’s solid performance therefore, when adjusted operating profit more than doubled to £390 million.
Melrose had said “further significant progress” should be in store for 2024 in full-year results last time out, setting a target for adjusted aerospace profit to climb as high as £570 million.
This would come on the back of an increase in engine sales margins to 28% ahead of targets in 2024, before surpassing 30% from 2025.