Meggitt H1 Financials Reflect Strong US Demand

Meggitt posted a double-digit percentage year-on-year (y/y) increase in revenues for the first six months of 2019, prompting the UK-based engineering group to upgrade its organic growth outlook for the full year.<br />The weaker value of sterling against the US dollar “positively affected our reported results”, Meggitt noted when announcing its...

Meggitt posted a double-digit percentage year-on-year (y/y) increase in revenues for the first six months of 2019, prompting the UK-based engineering group to upgrade its organic growth outlook for the full year.

The weaker value of sterling against the US dollar “positively affected our reported results”, Meggitt noted when announcing its unaudited interim results on 6 August.

Sales in the first half (H1) of 2019 rose by 12.46% to GBP1.07 billion (USD1.31 billion), with defence customers accounting for 35% of this total. Sales of civil and defence original equipment increased by about 11% and 13% respectively compared with H1 2018.

Source: www.janes.com