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Melrose full-year adjusted pretax profit nearly triples

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(Reuters) – Turnaround specialist Melrose Industries Plc’s full-year adjusted pretax profit nearly tripled, boosted by last year’s hostile takeover of British engineer GKN.

The company, which specialises in buying manufacturing businesses, on Thursday reported a 172 percent rise in adjusted pretax profit to 703 million pounds for the year ended Dec. 31, ahead of the company’s expectations.

(Reporting by Tanishaa Nadkar in Bengaluru; Editing by Bernard Orr)

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