Meggitt PLC (MGGT.L)
24 Sep 2018
LONDON, Aug 7 Meggitt is on track to meet upgraded guidance after seeing strong demand for its wheels, brakes and other aerospace parts, the British engineering firm said on Tuesday, adding its composite business was also showing signs of improvement.
* (Updates shares, comparison with rivals, context on U.S. defence market)
July 2 British engineering company Meggitt said it now expects total organic revenue growth in 2018 to rise by 4-6 percent, up from 2-4 percent earlier, helped by a stronger than anticipated trading in the second quarter.
* TRADING DURING Q1 OF 2018 WAS STRONG, WITH ORGANIC REVENUE GROWTH OF 6% EXCLUDING EFFECTS OF FOREIGN EXCHANGE AND DISPOSALS.
* HAS SOLD PRECISION MICRO, SPECIALISTS IN PRODUCTION PHOTO ETCHING FOR AUTOMOTIVE AND MEDICAL SECTORS, TO LDC, PRIVATE EQUITY ARM OF LLOYDS BANKING GROUP FOR £22.5 MILLION IN CASH