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Meggitt Q1 Revenue Down 29% On Organic Basis


Meggitt Q1 Revenue Down 29% On Organic Basis
LONDON (dpa-AFX) - Meggitt PLC (MGGT.L) reported that its first quarter Group revenue was down 29% against the comparative period. In civil aerospace, both original equipment and aftermarket revenue were down 46%. Within civil aftermarket, business jet revenue was down 24%, outperforming large and regional jets which were down 53% and 51% respectively.
The Group said while first quarter revenue was broadly in line with its expectations, disruption to operations caused by the ongoing effects of the pandemic and lower productivity at two of earlier stage MPS sites in the US dampened profitability in the period.
For 2021, the Group now expects: revenue broadly in line with 2020 on an organic basis; underlying operating profit to be ahead of 2020; and positive free cash flow. ....

City Of , United Kingdom , நகரம் ஆஃப் , ஒன்றுபட்டது கிஂக்டம் ,

Meggitt Slips To Loss In FY20, Orders Down; Sees Broadly Flat FY21 Revenues


Meggitt Slips To Loss In FY20, Orders Down; Sees Broadly Flat FY21 Revenues
Loss per share was 40.4 pence, compared to profit of 28.8 pence a year ago.
Underlying profit before tax was 159.5 million pounds, compared to 370.3 million pounds last year. Underlying earnings per share were 16.5 pence, compared to 37.3 pence a year ago.
Underlying operating profit was 53% lower at 191 million pounds.
Group revenue of 1.68 billion pounds declined 26 percent from 2.28 billion pounds. Revenues fell 22% on an organic basis, with a robust performance in defence, where organic revenue grew 4%.
Orders fell 37 percent on a reported basis and 38 percent organically to 1.55 billion pounds.
In light of ongoing challenging and uncertain market conditions, the Board has recommended not to pay a final dividend for 2020. ....

City Of , United Kingdom , Meggitt Plc , நகரம் ஆஃப் , ஒன்றுபட்டது கிஂக்டம் , மெக்கிட் ப்ல் ,