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Meggitt says Q1 trading in line with expectations

27 April 2017 07:36

Meggitt said Q1 trading was in line with expectations, with reported revenue growth of 9% including the effects of foreign exchange and the disposal of Meggitt Target Systems.

"On an organic basis, revenue declined by 1%, consistent with our expectation that revenue and earnings will be weighted towards the second half of the year," the company said.

Looking ahead, Meggitt continued to expect 2-4% organic revenue growth for the year, in line with guidance issued with the 2016 FY results in February.

"We continue to make good progress on our key strategic initiatives and further detail will be provided on these at a Capital Markets Day on 16 May 2017," it said.

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