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Melrose chiefs in line for a fortune

Bosses at Melrose are within touching distance of a £100m-plus paper fortune as the engineering group's profits rose 32 per cent to £161m.

The top nine staff will be handsomely rewarded at the end of May when a five-year incentive scheme matures. In that time, the shares have risen by three-quarters.

Melrose, which manufactures steel ropes and power-generation equipment, turns around unloved industrial assets.

The group's final dividend is up 20 per cent to 8.4p a share.