Melrose Industries reported a statutory pre-tax profit of £89 million for the first half of 2026. This figure fell from £379 million during the same period in the previous year. Shares in the aerospace and defense firm hit a 52-week low before recovering slightly.
An incident at the Garden Grove facility in the US caused the performance decline. Management expects the incident to cost an additional £25 million to £30 million in the second half. Melrose paused its £175 million share buyback program due to the resulting uncertainty.
On an adjusted basis, the company grew revenue by 10%. Adjusted operating profit increased by 16% during the period. The company maintained its full-year guidance, excluding the facility incident costs.