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0856 GMT [Dow Jones] Melrose (MRO.LN) down 14% to 204p, after the company’s interim results. Accendo Markets says that while the company has announced trading in line with expectations for 2012 and says it’s confident of delivering shareholder value in the medium term, all is not well. More important is management flagging slowing growth trends/delays for certain businesses, leading total underlying revenues to grow just 6% in the last four months, down from 10% in 1H, says Accendo. Order intake has also slowed by 8%, suggesting a tougher outlook, likely dented by prominent slowing economic growth worldwide, adds Accendo. ([email protected])
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