LONDON, March 4 British aircraft parts supplier
Meggitt reported a 3 percent rise in annual profits, in
line with forecasts, and said it would hike its dividend by 8
percent as a sign of confidence in its prospects for this year.
The company, which supplies flight displays and wheels to
planemakers Airbus and Boeing, on Tuesday posted
underlying pretax profit of 377.8 million pounds ($631.6
million) in 2013, in line with a company supplied forecast of
375 million pounds.
"As a sign of our continuing confidence in the prospects for
the group, we are recommending an increase in the full-year
dividend of 8 percent," chief executive Stephen Young said in a
The company said it planned to payout a total of 12.75 pence
Annual revenue of 1.64 billion pounds, represented growth of
2 percent, in line with Meggitt's downgraded forecast for the
Last November the firm had guided to revenue growth in the
low single digits, behind the mid-single digit percent revenue
growth it had estimated in August, blaming production problems
in the U.S.