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Britain's industrial landscape scarred by private equity


Among those in the wrong hands are the world s largest security company G4S, employing 533,000 people across the globe, and infrastructure champion John Laing, which managed the construction of the second Severn crossing, the Prince of Wales Bridge.
Most buyers are more interested in short-term returns, rather than Building Back Better or levelling up – the favourite mantras of the Government. There has also been private equity interest in the UK s depleted aerospace and engineering sector at engineer Senior and Ultra Electronics.
If you want to understand why there is so little consistency in the way Whitehall handles bids for British industrial and manufacturing gems, look no further than the grandiloquently named but universally deprecated Department for Business, Energy and Industrial Strategy. ....

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LONDON MARKET PRE-OPEN: Next upgrades annual profit guidance


LONDON MARKET PRE-OPEN: Next upgrades annual profit guidance
Thu, 6th May 2021 07:49
(Alliance News) - Stock prices in London are seen opening marginally higher on Thursday ahead of the Bank of England s interest rate decision at midday, as voters head to the polls across the UK for local elections.
In early company news, clothing and homewares retailer Next raised its full-year profit guidance on a strong first quarter. Housebuilder Barratt Developments said it expects an increase in annual completions. Industrial turnaround specialist Melrose Industries said it was encouraged by recent trading.
IG futures indicate the FTSE 100 index is to open 8.20 points higher at 7,047.50. The blue-chip index closed up 116.13 points, or 1.7%, at 7,039.30 Wednesday. ....

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Melrose Industries: Trading Modestly Ahead Of Expectations


Melrose Industries: Trading Modestly Ahead Of Expectations
LONDON (dpa-AFX) - Melrose Industries (MRO.L) issued its trading update for the four months from 1 January to 30 April 2021. For the Melrose Group, sales was up 8% from last year. Excluding Nortek Air Management, sales grew by 4%. The Group said the operating margins achieved in the first quarter continued to improve faster than expected and cash generation for the Group is encouraging, with Melrose being cash neutral in the first quarter.
Simon Peckham, CEO of Melrose Industries PLC, said: We are pleased with our start to the year and hopefully will see this momentum continue for the rest of the year. We are encouraged by the significant improvements made to the GKN businesses being reflected in their financial performance. ....

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