United States

Meggitt PLC (MGGT.L)

MGGT.L on London Stock Exchange

21 Sep 2017
Change (% chg)

-- (--)
Prev Close
Day's High
Day's Low
Avg. Vol
52-wk High
52-wk Low

Latest Key Developments (Source: Significant Developments)

Meggitt's Q1 trading in line with expectations
Thursday, 27 Apr 2017 02:11am EDT 

April 27 (Reuters) - Meggitt Plc :Trading during Q1 of 2017 has been in line with expectations.Reported revenue growth of 9% including effects of foreign exchange and disposal of meggitt target systems.Looking forward, group continues to expect 2-4% organic revenue growth for year.On an organic basis, revenue declined by 1%, consistent with our expectation that revenue and earnings will be weighted towards second half of year..Civil aerospace revenue grew 3% organically.Original equipment revenues grew 3%, with strong growth in large jets partly offset by continued softness in business jet and civil rotorcraft.Organic aftermarket revenues also grew 3%, with good growth in business jets but lower demand for regional jet spares..Military revenues declined by 5% organically with continuing resolution in us affecting demand in quarter, despite positive outlook for medium-term budget growth.  Full Article

Meggitt reports 13 pct rise in adjusted profit
Tuesday, 28 Feb 2017 02:00am EST 

Meggitt Plc : Fy underlying pretax profit 352.1 million stg versus 310.3 million stg year ago . Final dividend up 5 percent to 10.3 penceper share . Total dividend up 5 percent to 15.1 penceper share . Reported revenue growth of 21% benefitted from foreign currency movements and composites acquisitions completed in late 2015 . Group organic revenue growth of 1%: organic revenue growth of 4% in civil aerospace and 1% in military partially offset by continued weakness in energy . Recommended final dividend up 5% to 10.3p, resulting in full-year dividend up 5% to 15.1p . Underlying profit before tax 352.1 million stg +13 percent . Earnings per share (p) 34.8 +10 percent . Revenue 1,992.4 million stg, +21 percent .Stronger second half performance gives us good momentum going into 2017.  Full Article

Qinetiq buys Meggitt Target Systems
Wednesday, 21 Dec 2016 02:00am EST 

Qinetiq Group Plc :Enhances position in global test and evaluation through acquisition of Meggitt Target Systems.  Full Article

Meggitt third quarter revenue up 6 pct
Tuesday, 15 Nov 2016 02:00am EST 

Meggitt : Trading since half year has been in line with expectations . Q3 revenue growth of 6% on an organic basis (excluding effects of M&A and foreign exchange) . Outcome consistent with previous expectation of a greater H2 weighting of organic revenue and earnings than in 2015 . On a reported basis, revenue grew by 28%, including effects of M&A and foreign exchange . Group expects to achieve low single digit organic revenue growth for year, consistent with previous guidance and even after taking into account recently announced delays to key civil platforms. .Meggitt is also announcing the appointment of Tony Wood as Chief Operating Officer with effect from 1 December 2016. Wood, was most recently President, Aerospace at Rolls-Royce..  Full Article

Meggitt sensing systems unit wins $48 mln contract
Wednesday, 26 Oct 2016 02:13am EDT 

Meggitt Plc : Contract win . Meggitt Sensing Systems awarded $48 million contract to Supply Health and Usage Monitoring Systems (HUMS) for Chinese helicopters . Contract from Guangzhou Hangxin Avionics Co Ltd . Deliveries start in 2019 .Sales of up to 500 units of each platform have been forecast over next 20 years.  Full Article

Meggitt says completed private placement of of senior notes for $600 mln
Wednesday, 1 Jun 2016 02:00am EDT 

Meggitt Plc : Transaction has a weighted average maturity of 8.5 years, and an all-in funding cost of 3.46 pct. Funds will be received on 6 July 2016 . Net proceeds will be used to refinance bilateral credit facilities secured in 2015 . Private placement of usd 600m .Has completed a private placement of senior notes with 23 us based investors for a total consideration of $600m in 7 and 10 year maturities.  Full Article

Meggitt PLC sticks to annual guidance, says cost cutting on track - Reuters News
Tuesday, 19 Apr 2016 02:29am EDT 

Meggitt PLC:Meggitt stuck to its annual guidance for low single-digit rise in organic revenue, as growth in civil aerospace was offset by energy market weakness, and said it was making good progress with a cost-cutting plan. - RTRS.Meggitt, whose wheels, brakes and electronic systems are used in commercial and military planes, said last October it would shed jobs after warning that 2015 profit would come in below expectations.The company said on Tuesday that it would cut 400 jobs by the end of the first-half of the year, in line with its plan.  Full Article

Meggitt PLC reaffirms FY 2016 outlook
Tuesday, 19 Apr 2016 02:00am EDT 

Meggitt PLC:Says the group continues to expect low single digit organic revenue growth for FY 2016, in line with guidance issued with FY 2015 results in Feb.  Full Article

Meggitt PLC recommends final dividend
Tuesday, 23 Feb 2016 02:00am EST 

Meggitt PLC:Says it has recommended final dividend is increased by 3% to 9.80p (2014: 9.50p) and represents a total dividend for the year of 14.40p (2014: 13.75p).Says the proposed dividend will be paid on 6 May 2016 to shareholders on the register at close of business on 29 March 2016.  Full Article

Meggitt PLC completes acquisition of advanced composites businesses of Cobham plc
Wednesday, 25 Nov 2015 02:01am EST 

Meggitt PLC:Confirms that acquisition of advanced composites businesses of Cobham plc (Cobham Advanced Composites Limited, Compass Composites Products Inc and certain assets of Cobham Advanced Electronic Solutions Inc) for $200 mln in cash has been completed.Says acquired businesses will be integrated into Meggitt's polymers and composites division.  Full Article

Britain's Meggitt on track to meet annual forecasts

LONDON, Aug 1 British auto and aircraft parts maker Meggitt reiterated its annual guidance for a 2 to 4 percent rise in organic revenue after it reported first-half results helped by currency moves and civil aerospace demand.