Full Year Results 

Meggitt flags slower growth in 2020

Meggitt flags slower growth in 2020

Engineering group Meggitt (MGGT) delivered 8 per cent organic revenue growth in 2019, exceeding the upgraded 6-7 per cent guidance range it had provided in November. The defence division, which accounts for over a third of group revenue, reported like-for-like sales growth of 11 per cent, propelled by higher demand for parts for the F-35 Joint Strike fighter jet and M1A Abrams tank. Yet with the ongoing production halt of Boeing’s 737 Max jet and now the fallout from coronavirus, the group expects overall organic revenue growth to drop to between 2 and 4 per cent this year.

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