Melrose tax rate to fall after US changes

Melrose expects its effective tax rate for the financial year to 31 December 2018 to fall to approximately 24% following the enactment of the Tax Cuts and Jobs Act in the US on 22 December 2017.

The changes will also significantly reduce the amount of US tax payable on any disposal from within the Nortek group.

There will be no effect on the financial year to 31 December 2017.

At 8:10am: (LON:MRO) Melrose PLC share price was +2.05p at 215.75p